The new income tax law for 2017 was approved by Parliament last week in Nay Pyi Taw, including a controversial gold purchase tax of 1 per cent.
The levy adds a further burden on middle and lower income earners already facing inflation of more than 11 per cent annually with interest rates hovering around 8 per cent. Many low-income families buy and sell gold regularly as a form of savings.
Export-Import Bank of Thailand (Exim Thailand) is opening a representative office in Yangon by April.
This followed the Central Bak of Myanmar's presentation of the license on March 6. Exim Thailand President Pisit Serewiwattana was in Nay Pyi Taw to receive the license from CBM Governor Kyaw Kyaw Maung.