What is the import tax benefit or privilege in Myanmar?
This is a important information that you must know before you import to Myanmar. It can help you to reduce your cost or expense or crate the competitive advantage to do the business in Myanmar.
In general, there would be mainly 4 privileges to exempt the custom duty or taxes or both
1) Form D (Asian), Form E (Asian +3), Form AJ (Japan), and Form AK (Korea). These Forms will enable the Myanmar importer to waive out the Import Custom Duty (Remain the Commercial Tax and Advanced Income Tax to pay for)
2) MIC (Myanmar Investment Commission) is for the Importer, whose company registers under the MIC. They could waive out for Import Custom Duty, Commercial Tax, and Advanced Income Tax. However, this privilege has applied on the imported items and there is validity so it is recommended to check the with the importer (consignee).
3) SEZ (Special Economic Zone), which we normally know such as Thilawa SEZ or MEZ (Myawaddy Economic Zone). This privilege is similar to MIC which enables the importer whose company registers under SEZ law could import without Import Custom Duty, Commercial Tax, and Advanced Income Tax. As same as MIC, the privilege has the validity.
4) CMP is the privilege for only the garment industry. The importer whose company registers under CMP law could import without Import Custom Duty, Commercial Tax, and Advanced Income Tax. As same as MIC and SEZ, the privilege has the validity.
If you are interested to get more information or would like to import any product to Myanmar ,please contact us : [email protected]