Myanmar exempts commercial tax on more export items

YANGON, Feb. 26 (Xinhua) — Myanmar has exempted commercial tax on more export items to encourage exportation, according to a government notification made public Sunday.
The exemption, which covers garden fruits and products including various kinds of fruits and vegetables, will be effective from March 1 to Aug.14, the notification said.
The move will help expedite the country’s export and reduce tax burden of exporters.
The government has also exempted commercial tax on a number of export items such as rice, beans and pulses, corn, sesame, rubber, freshwater and saltwater products and animal products as well as value-added products made of timber, bamboo and rattan.
Myanmar’s foreign trade turnover amounted to 14 billion dollars in the first 10 months (April-January) of 2011-2012.
Of the total, the export turnover was 7.1 billion dollars which was gained mainly from the export of natural gas, marine products, rice, minerals and beans and pulses.