Gem buyers exempted from tax

Foreigners who purchase jewellery and gems at the Yangon International Gems and Jewellery Fair 2020 will exempted from paying a 5 percent commercial tax, according to Daw Nyunt Nyunt Khine, joint-treasurer at the Gems and Jewellery Entrepreneurs Association (GJEA).

Foreigners entering the country to participate at the fair will also be given easy access to visas.

The move is aimed at encouraging more buyers and interest in Myanmar-produced jewellery. Last year, over 700 merchants from 27 countries visited the fair.

This year will be the third year the fair is held in Yangon. It will take place at the Lotte Hotel on January 10 to 13.

Source: Myanmar Times

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