THE Ministry of Commerce reduced income inward remittance of seafarers to US$50,000 from over
$200,000 per year to grant import permits for electric vehicles (EVs), according to a notification released on 26 October. As per the statement released on 13 October, if those Myanmar citizens including seamen transferred their foreign wages to the local banks, they were entitled to import one EV which value is equivalent to five per cent of the inward remittance worth more than US$200,000 per year. Except for those receiving monthly salary, others were allowed to import electric vehicles or electric motorcycles which is equivalent to five per cent of the remittance if they made inward remittance worth $50,000 per year.
To bolster the growth of the electric vehicle industry and promote environmental conservation
activities, import permits for electric vehicles or electric motorcycles are granted for inward remittance of foreign salary or other wages of Myanmar citizens as a special programme. The ministry changed the inward remittance amount to $50,000 for all Myanmar citizens receiving foreign salaries including seafarers in line with the notification released on 26 October. If an individual’s remittance does not meet the amount of the EV or electric motorcycles, they can import them collectively. This action of EV import permit is effective from 16 October 2023. The following contact phone 0673408433 and email firstname.lastname@example.org of the ministry can be reached and contacted for further details.
Source: The Global New Light of Myanmar