The Union government is planning to take stringent measures against illegal trading in order to prevent the smuggling of contraband, which causes a great loss of revenue, said U Kyaw Win, Union Minister for Planning and Finance. “It is essential for the nation to control contraband but it must be carried out in a systematic […]
Government cracking down on illegal trading & smuggling
January 30, 2017 by Thiha
Filed Under: Latest News Tagged With: Bago, CCTV, Customs Department, government, Kayin, Kyaikhtiyoe, Mayanchaung, Ministry of Planning and Finance, Mobile-X-ray, Mon, Shan, trading, U Kyaw Win Union Minister for Planning and Finance
Central Bank to Reform Reference Rate
December 7, 2016 by thiha
The Central Bank will reform its daily dollar auction system as part of an attempt to address the weakening kyat, deputy governor U Set Aung told Myanmar’s business community last week. The deputy governor, along with vice president U Myint Swe, Minister for Finance and Planning U Kyaw Win and Yangon Region Chief Minister […]
Filed Under: Latest News Tagged With: China, Commercial Banks, Customs Department, financial sector, industry, Informal Market, minister for finance, Myanmar Business Community, Planning U Kyaw Win, the Central Bank, U Myint Swe, U Set Aung, U Soe Thein, Union of Myanmar Federation of Chamber of Commerce, Yangon Region Chief Minister U Phyo Min Thein
Automated system available in border trade camps by 2018
November 17, 2016 by Thiha
The Myanmar Automated Cargo Clearance System (MACCS) is planned for use in border trade camps by 2018, according to the Customs Department. To facilitate trade, MACCS was launched at international ports, Yangon Airport International Cargo Terminal and Thilawa Special Economic Zone operations starting on 12thNovember. This will now be extended to border areas. The automated […]
Number of Tax payers reaches over 300,000 in this FY
November 17, 2016 by Thiha
The number of taxpayers reached over 300,000 as of the end of October in the 2016-2017 fiscal year, allowing the nation to increase tax revenues, said U Myint Thaung, Yangon Region minister for planning and finance. Over Ks2,005,895 million have been received from a total of 363,266 taxpayers from April to the end of October […]
Filed Under: Latest News Tagged With: Customs Department, fiscal and monetary policies, Internal Revenue Department, licence fees, Ministry of Commerce, Ministry of Electricity and Energy, Ministry of Natural Resources and Environmental Conservation, Ministry of Transport and Communications, tax revenues, taxpayers, the Department of Road Transport Administration, The Forest Department, The General Administration Department under the Ministry of Home Affairs, The Hotels and Tourism ministry, U Myint Thaung, Yangon Region minister for planning and finance
Myanmar to launch single-stop inspections at borders with neighbouring countries
August 19, 2016 by thiha
Single-stop inspections will be deployed at border gates between Myanmar and neighbouring countries to prevent illegal trade, said Union Minister for Commerce Dr Than Myint yesterday. The Union minister told Amyotha Hluttaw that discussions are ongoing with China and Thailand to launch the single-stop inspection system at border crossings. The system is aimed at avoiding […]
Filed Under: Latest News Tagged With: Amyotha Hluttaw, Bago, China, commerce, Customs Department, Defence, Environmental Conservation, Illegal Trade Prevention Committee, Immigration, Kachin, Kayin States, labour, Ministries of Home Affairs, Myanmar, natural resources, Population, region, Sagaing, Shan, State Governments, Taninthayi, Thailand, Union Minister for Commerce Dr Than Myint
Garment industry expected to earn US$10 billion from export in a decade
August 18, 2016 by thiha
The export value from the garment industry under Cutting-Making and Packing (CMP) system is expected to fetch up to US$10billion in a decade, it is learnt from Myanmar Garment Manufacturers Association (MGMA). “We expect garment industry to be in operation with 1,500 factories in 2025, with a total labour force of one million. To meet […]
Filed Under: Latest News Tagged With: CMP, Customs Department, Cutting Making, MGMA, Myanmar Garment Manufacturers Association, packing, U Myint Soe
MPA to double fines for delayed container withdrawals
July 8, 2016 by thiha
Myanma Port Authority will be fining companies that fail to remove their sea containers from ports on time, starting this month. The US$4 fine will increase to US$16 depending on the cargo. This is an attempt for the ports to be able to move cargo quickly and not backlog, as cargo pile ups in Myanmar […]
Filed Under: Latest News Tagged With: Customs Department, Myanma Port Authority, Myanmar Container Association, us
Yangon ports implement round-the-clock clearance
June 2, 2016 by thiha
FROM last Thursday, customs clearance became available round the clock at all ports in Yangon, but it has come at a cost. It was announced last week that customs clearance for outbound and inbound shipments would be available 24 hours at all ports in Myanmar, including Yangon Port that is run by Myanmar Port Authority, […]
Thousands of car imports approved
May 12, 2016 by Thiha
A new government-led supervisory committee has released around 14,000 cars that had been held at Myanmar’s borders after an informal ban on vehicle imports was imposed last December. When the last vehicle import supervisory committee was disbanded at the end of last year, thousands of cars bound for Myanmar were held up, commerce minister U […]
Filed Under: Latest News Tagged With: Customs Department, Imports, Internal Revenue Department, Ministry for Planning and Finance, Ministry of Commerce, Ministry of Industry, Ministry of Transport and Communication, Myanmar Automobile Manufacturers and Distributors Association, Road Transport Administration Department, Trade Department, U Kyi Thar Han, U Myint Cho, U Soe Tun, U Than Myint, U Win Myint, Yangon government’s car parking analysis group
Licences to be issued at SEZs
September 10, 2015 by Thiha
Licences to invest in Myanmar special economic zones will soon be issued at One-Stop Service Centres within the zones. According to the special economic zone by-law, this provision is being introduced for the convenience of investors. One-Stop Services Centres in SEZs will provide services such as company registration, visa application, labour registration and import and […]
Filed Under: Latest News Tagged With: Commerce Ministry, construction ministry, Customs Department, Finance Ministry, Immigration Department, labour ministry, licence services, Myanma Port Authority, Myanmar special economic zones, One-Stop Services Centres, Revenue Department, Yangon Region Government
To see more of our clients click 