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Seq |
Particulars |
Committee’s assessment |
Remarks |
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Complete |
Deficient |
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2.0 |
PRESENTATION OF FINANCIAL STATEMENTS
(Based on statement filed in accordance with Myanmar
Companies Act.)
(In the case of a Company carrying on business) |
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2.1 |
Q. Are the statements audited by a qualified accountant,
and
by whom?
A. ………………………………………………………………………….. |
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2.2 |
Q. Are books maintained in accordance with Section 130
of
the Myanmar Companies Act and certified by the
auditor?
A.………………………………………………………………………….… |
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2.3 |
Q. If a holding Company, does Balance Sheet include
particulars as to the subsidiary company, as required
under Section 132 A?
A. ……………………………………………………………………………… |
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3.0 |
BASIS OF ACCOUNTING
( In the case of a Company carrying on business ) |
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3.1 |
Q. Are any sales into Myanmar contracted by the Foreign
Parent Company on behalf of the Company?
A ………………………………………………………………………………. |
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3.2 |
Q. Are all such sales invoiced by the Company, or by the
Foreign Parent Company?
A. …………………………………………………………………………….. |
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3.3 |
Q. How is the Company remunerated by the Parent
Company on sale contracted by them (3.1):
(i) Management Fees?
Or
(ii) Administration Fees?
Or
(iii) Supervision Fees? Or
(iv) Commission?
A …………………………………………………………………………… |
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3.4 |
Q. Are the above fees due physically remitted to
Myanmar?
A. ………………………………………………………………………….. |
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3.5 |
Q. In case the Parent Company is due by the Local
Company for supervision, management, etc, how are
they paid or adjusted?
A. ……………………………………………………………………………… |
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4.0 |
TAXATION
(As issued renewal of “ Permit “ is dependent
in
compliance with the Myanmar Tax Laws). |
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4.1 |
Q. When
was the Company last assessed and taxed to
Myanmar
Income – tax?
A. ……………………………………………………………………………
Q. If assessments have been pending, since which year?
A ………………………………………………………………………… |
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4.2 |
Q. Are there any exemptions from Income – tax?
A. ………….…………………………………………………………...
Note : Exemption of tax and duties on imported goods
does
not amount to exemption on Income – tax on the
profits of the Company. |
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