Customs issues impact Singapore Myanmar Investco third quarter results

MYANMAR. Singapore Myanmar Investco Limited (SMI) has reported a 16.6% year-on-year decrease in revenue in the third quarter, to US$5.5 million. The company, which manages duty free and food & beverage outlets at Yangon Airport’s international terminal, attributed the decline to reduced retail sales as a result of Myanmar Customs restricting some key duty free […]

Yangon airport managed 112 charter flights last year

Yangon International Airport managed 112 charter flights in 2016, most of them for business purposes, according to an official from Myanmar MJETS Business Aviation Centre, which provides services for international charter flights at the airport. Out of 112, 70 charter flights were made for business trips, while the remaining 42 carried patients abroad for medical […]

Booze and Cigarette Taxes to Change from April

Cigarettes will be taxed individually and alcohol will be taxed per litre, according to the draft Commercial Tax Law 2016. For cigarettes, a roll of cigarette will be taxed from K3 to K48 depending on the price of the cigarette. For alcohol, a litre of alcohol will be taxed from K66 to K2,231 depending on […]

Tax income exceeds estimates

In first six months of the 2014-15 financial year, the union collected tax volumes of US$2,5 billion, exceeding the estimate of $2.3 billion, according to the Union Tax Report. The estimated tax volume of the Ministry of Finance for the same period was more than $1.3 billion but in excess of $1.5 billion was collected. […]

Myanmar to Introduce National Single Window to Reduce SEA Trade Restrictions

Myanmar plans to introduce a National Single Window (NSW) by 2016 to meet the requirements of the Association of Southeast Asian Nations (ASEAN) initiative – ASEAN Single Window (ASW). The ASW aims to integrate the NSWs from member states throughout Southeast Asia to expedite cargo and foster economic integration in the region. By allowing Myanmar […]

Mobile Team to Check Air and Sea Cargoes

Union Minister U Win Myint said the country’s Mobile Team will check cargoes, being carried into Myanmar via air and water ways, whether they are legal or not. Usually, the Mobile Team examines goods being couriered across Myanmar’s borders in vehicles using the country’s motorways. Union Minister U Win Myint has confirmed a six-month test […]