Foreign Investment Law of MyanmarWord文档格式.docx
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Foreign Investment Law of MyanmarWord文档格式.docx
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TheUnionofMyanmarForeignInvestmentLaw
[TheStateLawandOrderRestorationCouncilLaw
No.10/88]
The7thwaningdayofTazaungmon,I350B.E.
(30thNovember,I988)
TheStateLawandOrderRestorationCouncilherebyenactsthefollowingLaw:
-
CHAPTERI
TitleandDefinition
I.ThisLawshallbecalledtheUnionofMyanmarForeignInvestmentLaw.
2.ThefollowingexpressionscontainedinthisLawshallhavethemeaningsgivenhereunder:
--
(a)"
Commission"
meanstheUnionofMyanmarForeignInvestmentCommission;
(b)"
Government"
meanstheGovernmentoftheUnionofMyanmar;
(c)"
Citizen"
includesanassociatecitizenoranaturalizedcitizen.Thesaidexpressionalsoincludesaneconomicorganizationformedwithlocalinvestmentonly;
(d)"
Foreigner"
meansapersonwhoisnotacitizen.Thesaidexpressionalsoincludesaneconomicorganizationformedwithforeigninvestmentonly;
(e)"
Promoter"
meansanycitizenoranyforeignersubmittinganinvestmentproposaltotheCommission;
(f)"
Proposal"
meanstheprescribedapplicationsubmittedbyapromotertotheCommissionforapprovalofanintendedinvestmentandtheaccompanyingdraftcontract;
(g)"
Permit"
meanstheorderinwhichtheapprovaloftheCommissionofaproposalisexpressed;
(h)"
ForeignCapital"
includesthefollowingwhichareinvestedinaneconomicenterprisebyanyforeignerunderapermit:
--foreigncurrency;
--propertyactuallyrequiredfortheenterpriseandwhichisnotavailablewithintheStatesuchasmachineryequipment,machinerycomponents,sparepartsandinstruments;
--rightswhichcanbeevaluatedsuchaslicences,trademarksandpatentrights;
--technicalknow-how;
--re-investmentoutofbenefitsaccruedtotheenterprisefromtheaboveoroutofshareofprofits;
(i)"
Investor"
meansapersonoraneconomicorganizationmakinganinvestmentunderapermit;
(j)"
Bank"
meansanybankoftheState.
CHAPTERII
ApplicableEconomicActivities
3.ThisLawappliestoeconomicactivitiesprescribedbytheCommissionfromtimetotimewiththepriorapprovaloftheGovernment.
CHAPTERIII
BasicPrinciples
4.Foreigninvestmentsshallbemadeinaccordancewiththefollowingbasicprinciples:
(a)promotionandexpansionofexports;
(b)exploitationofnaturalresourceswhichrequireheavyinvestment;
(c)acquisitionofhightechnology;
(d)supportingandassistingproductionandservicesinvolvinglargecapital;
(e)openingupofmoreemploymentopportunities;
(f)developmentofworkswhichwouldsaveenergyconsumption;
(g)regionaldevelopment.
CHAPTERIV
FormofOrganization
5.Foreigninvestmentmaybemadeinanyofthefollowingforms:
(a)investmentmadebyaforeignertotheextentofonehundredpercentforeigncapital;
(b)joint-venturemadebetweenaforeignerandacitizen.
6.(a)Informingundersection5:
(i)asoleproprietorship,apartnershipandalimitedcompanymaybeformed;
(ii)ifajoint-ventureisformedtheforeigncapitalshallbeatleast35percentofthetotalcapital.
(b)Informingasmentionedabove,incarryingoutthebusinessandinliquidationontheterminationofbusiness,otherexistinglawsoftheStateshallbecompliedwith.
CHAPTERV
FormationoftheCommission
7.TheGovernmentshallformtheCommission.
CHAPTERVI
DutiesandPowersoftheCommission
8.TheCommissionmayacceptanyproposalwhichinitsopinionwillpromotetheinterestsoftheStateandwhichiswithoutprejudicetoanyexistinglaw.
9.TheCommissionshallinscrutinizingaproposaltakeintoconsiderationfactssuchasfinancialcredibility,economicjustificationofthebusinessenterpriseandappropriatenessoftechnology.
10.TheCommissionshallissueapermittoapromoteronaproposalbeingaccepted.
11.Incaseanextension,relaxationoramendmentofthetermofthepermitortheagreementissubmittedbythoseconcerned,theCommissionmayshowthereofasitmaydeemappropriate.
12.TheCommissionshalltakenecessaryandpromptactioninrespectofcomplaintsmadebyinvestorsonfailuretoreceivefully,benefitsentitledtounderthisLaw.
13.TheCommissionmay,atanytimerequireapromoteroraninvestortofurnishsuchevidenceorfactsastheCommissionmaydeemnecessary.
14.TheCommissionmay,forthepurposeofcarryingouttheprovisionsofthisLawformsuchcommitteesandbodiesasmaybenecessary.
15.TheCommissionmayprescribethebankwhichshalltransactfinancialmattersunderthisLaw.
16.TheCommissionshall,fromtimetotimereportitsperformancetotheGovernment.ItshallalsorecommendtotheGovernmentmeasuresnecessarytofacilitateandpromoteforeigninvestments.
CHAPTERVII
Contracts
17.Informinganeconomicenterpriseunderapermit,contractsshallbeexecutedasmaybenecessary.
18.TheCommissionmay,uponapplicationbythoseconcernedallowtheextension,relaxationoramendmentofthetermofacontractoragreementasmaybeappropriate.
CHAPTERVIII
Insurance
I9.AlleconomicorganizationformedunderapermitshalleffectinsurancewiththeMyanmaInsuranceCorporationinrespectoftheprescribedtypesofinsurance.
CHAPTERIX
AppointmentofPersonnel
20.Inappointingpersonnelinaneconomicorganizationformedunderapermit,preferenceshallbegiventocitizens,providedthattheCommissionmay,ifnecessary,allowtheappointmentofexpertsandtechniciansfromabroad.
CHAPTERX
ExemptionsandReliefs
2I.TheCommissionshall,forthepurposeofpromotingforeigninvestmentswithintheState,granttheinvestorexemptionorrelieffromtaxesmentionedinsub-section(a)outofthefollowingexemptionsorreliefsfromtaxes.InadditiontheCommissionmaygrantanyormorethanoneoralloftheremainingexemptionsorreliefsfromtaxes:
(a)inrespectofanyenterprisefortheproductionofgoodsorservices,exemptionfromincome-taxforaperiodextendingto3consecutiveyears,inclusiveoftheyearofcommencementofproductionofgoodsorservices;
incasewhereitisbeneficialfortheState,exemptionorrelieffromincometaxforafurtherreasonableperioddependinguponthesuccessoftheenterpriseinwhichinvestmentismade;
∙(b)exemptionorrelieffromincome-taxonprofitsofthebusinessiftheyaremaintainedinareservefundandre-investedthereinwithin1yearafterthereserveismade;
∙(c)righttoacceleratedepreciationinrespectofmachinery,equipment,buildingorothercapitalassetsusedinthebusiness,attheratefixedbytheCommissiontotheextentoftheoriginalvalueforthepurposeofincome-taxassessment;
∙(d)ifthegoodsproducedbyanyenterpriseareexported,relieffromincome-taxupto50percentontheprofitsaccruedfromthesaidexport;
∙(e)rightofaninvestortopayincome-taxpayabletotheStateonbehalfofforeignerswhohavecomefromabroadandareemployedintheenterpriseandtherighttodeductsuchpaymentfromtheassessableincome;
∙(f)righttopayincome-taxontheincomeoftheabove-mentionedforeignersattheratesapplicabletothecitizensresidingwithinthecountry;
∙(g)righttodeductfromtheassessableincome,suchexpensesincurredinrespectofresearchanddevelopmentrelatingtotheenterprisewhichareactuallyrequiredandarecarriedoutwithintheState;
∙(h)righttocarryforwardandset-offupto3consecutiveyearsfromtheyearthelossissustainedinrespectofsuchlosssustainedwithin2yearsimmediatelyfollowingtheenjoymentofexemptionorrelieffromincometaxascontainedinsub-section(a),foreachindividualenterprise;
∙(i)exemptionorrelieffromcustomsdutyorotherinternaltaxesorbothonmachinery,eq
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