Myanmar Exempts Commercial Tax on More Export Items

Myanmar has exempted commercial tax on more export items to encourage exportation, according to a government notification made public on Feb. 26, 2012.

The exemption, which covers garden fruits and products including various kinds of fruits and vegetables, will be effective from March 1 to Aug.14, the notification said.

The move will help expedite the country's export and reduce tax burden of exporters.

The government has also exempted commercial tax on a number of export items such as rice, beans and pulses, corn, sesame, rubber, freshwater and saltwater products and animal products as well as value-added products made of timber, bamboo and rattan.

Myanmar's foreign trade turnover amounted to 14 billion dollars in the first 10 months (April-January) of 2011-2012.

Of the total, the export turnover was 7.1 billion dollars which was gained mainly from the export of natural gas, marine products, rice, minerals and beans and pulses.