20 December 2022
The Myanmar Ministry of Commerce Directive No. 62/2022 (“Directive”), which sets out rules for the importation of electric vehicles under a pilot project, comes into effect on 1 January 2023.
The Directive applies to “battery electric vehicles”. The vehicles can be used for both personal use and passenger use.
To import battery electric vehicles into Myanmar, companies must:
- Be registered as a company with the Directorate of Investment and Company Administration;
- Conclude sale and purchase agreements for each brand of imported electric vehicle;
- Deposit a bank guarantee of MMK 50 million in an approved bank; and
- Receive approval from the National Steering Committee for Development of Electric Vehicles and Associated Businesses.
The Union Tax Law has been amended to exempt battery electric vehicles from commercial tax and special goods tax, effective from 1 October 2022 to 31 March 2023.