MRF requested Commerce ministry not to collect two per cent of advance tax on rice ex

Myanmar Rice Federation (MRF) asked the Commerce Ministry not to collect advance taxes on rice and paddy exports, according to this Fedration.

Additionally, MRF asked to reduce production costs, boost the production rate, shift the term to repay cultivation loans to the Myanma Agricultural Development Bank and cooperative associations, reduce the interest rate of loans from the state owned bank and other banks and have wider access to more ASEAN rice export markets like Indonesia and the Philippines under government to government (G to G) agreements, according to the aforementioned federation.

The committees concerned will meet the businessmen and merchants todeal with the difficulties in exporting in a bid to facilitate the trade.

“The Commerce Ministry will relax some rules and regulations to improvethe trade,” said U Khin Maung Lwin, the assistant secretary of the Commerce Ministry. Advance tax has to be paid at the department concerned, and then the tax will be reimbursed after deducting a relief, according to the MRF.

Source: Global New Light of Myanmar

NB: The best way to find information on this website is to key in your search terms into the Search Box in the top right corner of this web page. E.g. of search terms would be “property research report”, ”condominium law”, “Puma Energy”, “MOGE”, “yangon new town”,”MECTEL”, “hydropower”, etc.

 Opportunities from COVID19

.

Looking for foreign investors to invest in your business in Myanmar