
Knowledge Highlights 30 May 2023
Knowledge Highlights 6 April 2023
On 1 April 2023, the Myanmar Directorate of Investment and Company Administration (“DICA”) issued a notification requiring new companies to provide additional information together with their annual returns.
In the first annual return that is required to be submitted under section 97 of the Myanmar Companies Law within two months of its establishment, a company must now include the following information:
DICA stipulates that the above requirements must be complied with in order for new companies to have their annual returns recorded as submitted. It is mandatory under section 97 of the Myanmar Companies Law for annual returns to be submitted within two months of a company’s registration and it is an offence to not so comply.
The rationale for the additional information is to enable DICA to check that companies, directors, and shareholders are in compliance with relevant laws and to support Myanmar’s anti-money laundering and anti-terrorism financing procedures.