The Central Bank of Myanmar (“CBM”) has issued notification 4/2020 which will take effect from 1 April 2020.
Deposit rates will have a lower minimum rate of 6.5%. Secured lending will have a lower maximum rate of 11.5% and the unsecured lending rate will be set at 14.5%.
KPMG can assist in advising on how to plan for funding your investments into Myanmar as well as the regulatory requirements to achieve the plans. KPMG has extensive experience in assisting clients submit applications to the CBM to obtain approvals for foreign loans.
Please feel free to reach out to our tax professionals to discuss how these changes would impact your businesses.
KPMG Myanmar Tax Alerts highlight the latest tax and regulatory developments, impending changes 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.