The Ministry of Finance and Revenue has announced that tax exemptions on imports of diesel, fertilizer and liquefied natural gas (LNG) have been extended until the end of August.
Due to rising
fuel prices caused by conflicts in the Middle East, imports of high-speed
diesel (HSD 500 ppm) were exempted from customs duty, special goods tax,
commercial tax and the two per cent advance income tax from 1 April to 31 May.
The ministry has now approved a further extension of these exemptions until the
end of August.
The extension
is intended to help stabilise the prices of diesel-powered transport services
and goods, including basic food commodities that rely on diesel-powered
transportation.
The ministry
also stated that the tax exemptions on imports of diesel, fertilizer and LNG
will apply to shipments imported under Import Declarations (IDs) issued by the
Customs Department.
ASH/KNN
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