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Myanmar to ease decades-old alcohol import ban

Just months after the Yangon government strictly enforced a ban on stores selling foreign liquor, the Ministry of Commerce announced it would come up with draft legislation this year to relax the decades-old ban on alcohol imports. Assistant secretary U Khin Maung Lwin told The Myanmar Times that the ministry is currently drafting a bill […]

Mandalay toughens up on illegal entry of foreigners

The Mandalay regional government will dispatch mobile teams in its key cities in an effort to curb the illegal entry of foreigners, a senior regional minister said. U Myo Thit, regional minister of Resource and Environmental Conservation, said the teams of officials from the Immigration Department, Customs Department and law enforcement agencies will be deployed […]

New self-assessment system for car imports to apply from 2018 onwards

Customs will practice a new car importing system under which import valuations for cars will change this year. As such, car importers should ensure they are clear about the new system, said U Soe Tun, chair of Myanmar Automobile Manufacturers and Distributors Association (MAMDA). Up until 2017, imported car prices were based on the Cost, […]

Government cracking down on illegal trading & smuggling

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 […]

Central Bank to Reform Reference Rate

​​ 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 […]

Automated system available in border trade camps by 2018

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

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 […]

Myanmar to launch single-stop inspections at borders with neighbouring countries

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 […]

Garment industry expected to earn US$10 billion from export in a decade

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 […]

MPA to double fines for delayed container withdrawals

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 […]