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
#TheGlobalNewLightOfMyanmar