Government earns over Ks5 billion from jade and gems taxes

November 30, 2017

The government earned over Ks5 billion in trade taxes from jade and gems exports from Mandalay to Muse from November 2011 to August 2017. One-stop service opened in Mandalay to collect the tax for jade and gems exports in November 2011, according to the Jade Mining Department (Mandalay).

The staff from the customs department and the Internal Revenue Department are providing one-stop service at the jade mining department office on 35th Street, Chanayethasan Township, Mandalay from Monday to Friday.

“The government earns the tax mostly from cut jade and threaded jade beads. The gem and jade traders can pass the checkpoints without any delay with documents that show they have already paid the the tax,” said U Win Aung, the assistant general manager of the Jade Mining Department (Mandalay).

One-stop service provides inspection, assessment, weighing and price estimation of the jade and gems. The staff of the one-stop service collect a total of 8 per cent as extraction tax from the jade and gems. One- stop service is available in Yangon, Mandalay and Mogok.

“The jade from Mandalay-Muse road are being sold in China. But the traders have to carry only through official checkpoints,” said an official from the one-stop service.

The quality of the jade is classified into five levels such as A, B, C and etc.

Ref; The Global New Light of Myanmar