Foreign Investment Law of MyanmarWord文档格式.docx

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