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Tax applications of Investment businesses must be submitted directly to the Department of Commerce and the Customs Department starting from December 15

The Myanmar Investment Commission (MIC) has issued Notification No. 26/2021 dated December 20, 2021, stating that businesses operating with the approval and approval of State and Region Investment Committees must apply directly to the Department of Commerce and Customs Department from December 15, 2021, without the need for commission approval under Myanmar Investment Rule 230.

The Myanmar Investment Commission (MIC) has issued this notification to facilitate investment activities by exercising the authority conferred under Section 100 (b) of the Myanmar Investment Law. Investments include business-related equipment; The following must be followed when importing business equipment and raw materials.

Myanmar Investment Commission and Regions; Permission of State Investment Committees; From December 15, 2021, applications must be submitted directly to the Department of Commerce and Customs under the Myanmar Investment Rule 230, without the need for commission approval, except for the import of raw materials for liquor, beer, cigarettes, motor vehicles, motorcycle assembly and import of commercial sugar under the Myanmar Investment Rule 230. The Myanmar Investment Commission (MIC) has announced that the annual raw material requirements of the motorcycle assembly industry and the import of commercial sugar, alcohol, beer, cigarettes and motor vehicles must be submitted to the Myanmar Investment Commission on an annual basis.

Source: Daily Eleven

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