According to the Securities and Exchange Commission of Myanmar (SECM), all transactions on the soon to be opened Yangon Stock Exchange (YSX) will be commercially taxed according to aseanbriefing.com on 7 September.
The new bourse, the first of its kind in Myanmar, is scheduled to be opened in December of this year. The YSX is being developed in partnership with two Japanese firms, the Daiwa Institute of Research Ltd, which holds a 30.25 percent stake, and the Japan Exchange Group, with an 18.75 percent stake. As a result of the opening of the new exchange, all existing over-the-counter (OTC) markets will be made illegal.
The SECM was established in August 2014 in order to oversee the new stock exchange. Its powers are vested in it by the July 2013 SECM Law. The SECM will issue licenses for brokers, consultants, dealers, and underwriters.