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Myanmar held its first truly fair national elections in 25 years last November.
Burma Business Guide 2017
Now that Myanmar has gone from junta government to democratic government and from a centralized to a market-oriented country, it is on the way to a more affluent world. We hope that this fifth issue of our Myanmar Business Guide will help companies that want to share in Myanmar's growing business by highlighting the latest business trends and helping them meet the challenge of the years to come.
Please click here to get the guideline. Subscribe to this newsletters to receive the latest information on financial and business developments, investment announcements, new tenders, MIC-approved projects and forthcoming activities in Myanmar. On 22 May 2017, the Ministry of Planning and Finance published a new fiscal return no. 51/2017, which provides for changes to the system of taxation at source.
The Union Taxation Law 2017 was implemented and introduces changes to the special tax, trade tax and income tax, which will come into force on 1 April 2017. We have described in this newsletters the significant changes that may affect most Myanmar investor groups.
In the midst of ongoing criticism, Myanmar is still paying a lot of money for the military.
Myanmar's alleged agreement to buy combat aircraft from Russia is criticised by some who say the state is overspending on the army and not enough on training and other priority issues. Myanmar is to buy six Su-30 combat aircraft from Russia in a store that Myanmar's press estimate is 200 million dollars, the Myanmar press said on January 22.
No Myanmar administration official could be contacted to respond to the Tass account. Mr Fomin added that an estimated 600 Myanmar soldiers are enrolled in Russia's higher education establishments. "Whilst the Russian Federation says it supports positive dialog to solve the Burmese economic crises, accounts of the intention to dispose of progressive army technologies if they are real show otherwise," she said.
She referred to the suppression of the Burmese army in Rakhine's north state, which saw almost 700,000 refugees, mostly Muslim Rohingya, crossing the Bangladesh-Band. There have been many shocking stories of massive rapes, tortures and extra-judicial killing by Myanmar's known Tatmadaw Forces.
However, although the Rakhine state' s operations have found domestic backing, some inhabitants of the state have criticised the high level of jet use. In a time when the state was under immediate armed domination, the governing regime gave regular priority to defence expenditures over topics such as healthcare and training.
In the 2017-18 fiscal year, the first under the leadership of the National League for Democracy, Myanmar, also known as Burma, provided $2.1 billion to the Ministry of Defense, the third highest spending by the state after planning and finance, and electricity and energy.
Though defence expenditure was slightly lower than last year, it was still more than the total expenditure of the Ministry of National Health and the Ministry of Health and Sport. It is not clear whether they were connected, but a few day after Russia's proclamation there were demonstrations at Myanmar campuses demanding an increased educational budgets for the state.
Sai Khaing Myo Tun, chairman of the Myanmar Teachers Federation said to VOA: "Of those who were protesting, almost 40 were deported from their university. This is not a good way to cope with this kind of problem..... because we think it would scare the pupils and not allow them to demonstrate," he said.
While he said he disagreed with the students' stance in allegedly trying to go into the classroom of universities, he backed their demands for the administration to pay more for schooling. He said, "There are still a great many demands for the evolution of the educational system throughout the state.
Myanmar in October signed the International Covenant on Economic, Social and Cultural Right, which commits the political groups to working towards the provision of public healthcare and educational opportunities. Myanmar is committed to protecting people's right to healthcare and literacy by the signature of the treaty, said Sean Bain, the International Commission of Jurists' judicial advisor.
It was not possible to reach the National League for Democracy (NLD) and federal agencies to discuss the level of public expenditure or the Myanmar government's expenditure priorities. However, this was not the case.