An export income "export earning foreign currency system" in Myanmar that required for imports has been canceled by the ministry.
A 10 % of the total value of trade will
be taxed. The 90% of the total value of trade is called export earning
foreign currency which can be used for import according to the
department.
Last April, the ministry has allowed
anyone holding foreign currency account with state-owned banks to import
through normal trade liberally. This April, it has again permitted to
import goods without showing any earning income or foreign currency
account.
It has been canceled to match normal
trade system and cross-border trade system, the commerce and consumer
affairs department said.
The department has now opened commerce
centers in border towns of China, Thailand, Bangladesh and India and
been serving for better trade system. It has been accepting US dollars,
European dollars and Myanmar Kyats for trade affairs.
The show money system is no longer use and 242 items are allowed to import.
source: Eleven Myanmar
No comments:
Post a Comment