Myanmar CMP Customs Duty and Tax Exemption Updates: Key Highlights and Compliance Requirements

• Ministry of Planning and Finance issued notifications affecting CMP operations in Myanmar
• Notification 77 provides exemptions on customs duties and taxes for raw materials and packaging materials
• Notification 75 outlines procedures for claiming exemptions
• Updates effective from December 1, 2024
• Exemptions apply to raw materials and packaging materials used for CMP operations
• Finished goods must be re-exported within one year
• Extensions for re-export deadline can be requested
• Required documentation includes import/export forms, invoices, contracts, and endorsement letters
• CMP contractors must retain documents for seven years and submit details of materials balance annually

Source: dfdl.com

Note that this post was (partially) written with the help of AI. It is always useful to review the original source material, and where needed to obtain (local) advice from a specialist.

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