You are using an outdated browser and your browsing experience will not be optimal. Please update to the latest version of Microsoft Edge, Google Chrome or Mozilla Firefox. Install Microsoft Edge

November 16, 2017

Myanmar: Changes to Fiscal Year Calendar and MIC Benefits

As part of overall efforts to improve the business environment in Myanmar, the Union Government recently announced changes to the nation’s fiscal year calendar, while the Myanmar Investment Commission (MIC) has expanded eligibility for MIC benefits to companies currently operating in the country.

Following Union Government Meeting 17/2017 on September 7, 2017, the Myanmar government has decided to change the country’s fiscal year calendar from the previous system, which ran from April 1 to March 31, to a new system, which runs from October 1 to September 30. The aim of this change is to optimize national budgetary management and revenue collection. The change will take effect in the 2018-2019 fiscal year.

Separately, on October 10, 2017, the MIC issued Notification 84/2017: Announcement of Applicable Tax Exemption and Relief, in order to promote investments by providing added benefits to investment businesses currently operating in Myanmar. The notification allows for:

  • investment businesses without an MIC permit or MIC endorsement to apply for endorsement benefits; and
  • investment businesses that hold an MIC endorsement to apply for tax exemptions and relief from other internal taxes besides income tax.

Although a list of criteria for eligible companies was not disclosed in the notification, it is expected that the MIC will consider endorsement applications on a case-by-case basis, taking into account factors such as investment amount, company location, and environmental and social impacts.

For additional information about upcoming changes to Myanmar’s fiscal year calendar, and the implications of expanded MIC benefits for companies, please contact Yuwadee Thean-ngarm at [email protected] or +95 18 255 208. 

RELATED INSIGHTS​ 

January 26, 2026
Tilleke & Gibbins has contributed an updated Myanmar chapter to the recently published Foreign Investment Review 2026, a global guide to the legal and regulatory environment for foreign investment in 25 jurisdictions worldwide. Published and distributed by Lexology Panoramic, the guide discusses law and policy on oversight of foreign investment, regulatory frameworks, procedural requirements, and other important concerns for foreign investors. The Myanmar chapter was prepared by Nwe Oo and Aye Thuzar Hlaing, senior associates in Tilleke & Gibbins’ office in Yangon. The Myanmar chapter covers the following topics: Law and Policy: Government policies and practices, main laws and their scope of application (including details on investment promotional measures), definitions, rules for state-owned enterprises and sovereign wealth funds, relevant authorities and oversight, and national interest provisions. Procedure: Jurisdictional thresholds, national interest clearance, securing approval, the review process for competition clearance and associated penalties, involvement of authorities, facilitation of clearance, and post-closing regulatory powers. Substantive assessment: Substantive tests for clearance, authorities’ consultation with other countries and other relevant parties, transactional prohibitions and objections, mitigating arrangements and challenges to a decision, and protection of confidential information. Recent cases, updates, and trends: Relevant recent case law, key recent and ongoing developments. A PDF of the Myanmar chapter can be downloaded through the button below. Tilleke & Gibbins also contributed the Cambodia, Laos, and Vietnam chapters to Foreign Investment Review 2026. Readers can also gain 30 days of complementary access to the full Foreign Investment Review 2026 guide and the rest of Lexology Panoramic’s varied offerings through this link.
January 26, 2026
Prisna Sungwanna, head of Tilleke & Gibbins’ office in Vientiane, and Sayphin Singsouvong, associate, provided an updated Laos chapter for Foreign Investment Review 2026, a global guide to the legal and regulatory environment for foreign investment in 25 jurisdictions worldwide. Published and distributed by Lexology Panoramic, the guide discusses law and policy on oversight of foreign investment, regulatory frameworks, procedural requirements, and other important considerations for foreign investors. The Laos chapter aims to give investors an understanding of what to expect when establishing operations and operating in the Lao market, covering: Law and Policy: Government policies and practices, main laws and their scope of application (including details on investment promotional measures), definitions, rules for state-owned enterprises and sovereign wealth funds, relevant authorities and oversight, and national interest provisions. Procedure: Jurisdictional thresholds, national interest clearance, securing approval, the review process for competition clearance and associated penalties, involvement of authorities, facilitation of clearance, and post-closing regulatory powers. Substantive assessment: Substantive tests for clearance, authorities’ consultation with other countries and other relevant parties, transactional prohibitions and objections, mitigating arrangements and challenges to a decision, and protection of confidential information. Recent cases, updates, and trends: Relevant recent case law, key recent and ongoing developments. A PDF of the Laos chapter can be accessed through the button below. Tilleke & Gibbins also contributed the Cambodia, Myanmar, and Vietnam chapters to Foreign Investment Review 2026. Readers can also gain 30 days of complementary access to the full Foreign Investment Review 2026 guide and the rest of Lexology Panoramic’s varied offerings through this link.
January 26, 2026
Tilleke & Gibbins has contributed an updated Cambodia chapter to Foreign Investment Review 2026, a global guide to the legal and regulatory environment for foreign investment in 25 jurisdictions around the world. Published and distributed by Lexology Panoramic, the guide is focused on law and policy regarding foreign investment oversight, regulatory frameworks, procedural requirements, and other notable concerns for foreign investors. The updated Cambodia chapter was prepared by Jay Cohen, partner and director of Tilleke & Gibbins’ Phnom Penh office, and Nitikar Nith, associate. The chapter focuses most closely on the law and policy section, which explains the government’s policies and practices regarding foreign direct investment, the main investment laws and their scope, and the relevant authorities responsible for regulating mergers, acquisitions, and other business transactions. The chapter also brings up key recent developments, such as the prospect of Cambodia establishing a competition regulator. A PDF of the Cambodia chapter can be downloaded through the button below. Tilleke & Gibbins also provided the Laos, Myanmar, and Vietnam chapters to Foreign Investment Review 2026. Readers can also gain 30 days of complementary access to the full Foreign Investment Review 2026 guide and the rest of Lexology Panoramic’s varied offerings through this link.
January 26, 2026
Myanmar’s Private Security Services Law, enacted on February 18, 2025, together with its implementing Directive on Applications for a Private Security Services License or Permit issued on June 18, 2025, establishes the country’s first comprehensive regulatory framework for both commercial private security service providers and companies that employ in-house security personnel. The framework applies to both Myanmar and foreign entities. For foreign investors and multinational operators, the new regime introduces strict licensing requirements, local content rules, and various approvals that must be carefully considered as part of business planning and compliance processes. Regulatory Authority and Structure The governing authority under the Private Security Services Law is the Private Security Services Central Supervisory Committee, formed with the minister of the Ministry of Home Affairs (MOHA) as chairperson, the chief of the Myanmar Police Force as vice-chairperson, and members from other high-ranking officials from relevant ministries, such as Transport and Communications, Defense, Planning and Finance, Investment and Foreign Economic Relations, Legal Affairs, Immigration and Population, Labor, and Commerce. This Central Committee is the highest regulatory authority and has the power to adopt policies, approve or reject applications for licenses and permits, and decide appeals against administrative actions taken by Supervisory Committees, which operate under the Central Committee at the state and regional level. They are responsible for processing applications, verifying compliance with statutory requirements, submitting applications to the Central Committee with remarks, and issuing licenses and permits once approved. Supervisory Committees also monitor compliance by license or permit holders and impose administrative penalties for noncompliance, while the Central Committee exercises final decision-making authority. License Requirements for Security Service Providers To apply for a private security services license, companies must be registered under the Myanmar Companies Law. Foreign companies may also operate a private security services business in Myanmar, subject to compliance