Private education was not specifically mentioned in the restricted activities that were listed in the MIC notification no 15/2017 dated 10 April 2017. However, it was still included as a promoted industry which meant that investors may have been able to obtain tax incentives when making investments of this nature.
Notification 7/2018 specifies that investors (either Myanmar citizens, joint ventures or foreign investors) can invest in providing the following type of educational services:-
It would seem that that there will be flexibility in the form of investment but investors will still need to conform with the National Education Law.
KPMG can assist in assessing your investments into Myanmar. KPMG is experienced in advising clients looking at investing into Myanmar via acquisition of existing businesses or making greenfield investments into Myanmar. Our team of dynamic professionals have the necessary experience in dealing with the intricacies of investing into Myanmar and will be able to offer practical advice and solutions. Please reach out to us to discuss and understand the impact to your investment in Myanmar.
KPMG Client Alerts highlight the latest tax and regulatory developments, impending change to law or regulations, current practices and potential problem areas that may impact your company. As certain issues discussed herein are time sensitive, it is advisable to make your plans accordingly.
“Client Alert” is issued exclusively for the information of clients and staff of KPMG Advisory (Myanmar) Ltd and should not be used or relied upon as a substitute for detailed advice on the basis for formulating business decisions.