Knowledge Highlights 26 September 2022

The Myanmar Ministry of Commerce has repealed Newsletter No. 2/2020 (“Newsletter”), effectively prohibiting the export by foreign companies and joint ventures of crops classified as “value-added”.

The Newsletter had set out criteria for beans, corn and sesame to be considered “value-added” crops. A designation of “value-added” is required to enable export of certain commodities as provided by Notification No. 24/2019 (“Notification”).

The Notification permits foreign companies and joint ventures to purchase certain categories of commodities from local manufacturers for export. These categories include meat and fish, “value-added” crops, pulp and paper and refined metals. With the repeal of the Newsletter, foreign companies and joint ventures are not able to comply with the requirement for beans, corn and sesame to be designated as “value-added” and therefore will not be able to apply for the necessary export licence.

Exportation of the other commodities listed in the Notification is unaffected.

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Knowledge Highlights 28 November 2022

Myanmar Internal Revenue Department issues its first public ruling on tax avoidance and evasion under the Tax Administra ...

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