Finance Ministry widens tax cuts
“The main thing [the government] needs to do is get the fundamentals right in terms of policy [such as] reducing the budget deficit and removing some shackles in terms of the absurd restrictions in so many areas, and improve infrastructure such as electricity, ports, rail and roads, which would help keep costs down against the rising kyat,”
(Volume 30, No. 589 - August 22 - 28, 2011)
Have FECs reached the end of the line?
“IF there is exchange rate unification, the withdrawal of FEC will be included automatically. If FEC is withdrawn, the citizens with FECs in hand will get back US dollars or kyats equivalent to those FECs at prevailing exchange rate,”
(Volume 30, No. 589 - August 22 - 28, 2011)
Tax cut muted by dollar: traders
GOVERNMENT efforts to spur exports by cutting export taxes from 7 percent to 2pc on seven basic commodities from August 15 have been immediately undermined by another dip in the value of the US dollar, exporters said last week.
However, a number of exporters said they will only benefit from the tax reduction – which will remain until February 14, 2012 – if the exchange rate is stable.
(Volume 30, No. 589 - August 22 - 28, 2011)
CAEXPO coming soon
EXHIBITORS from ASEAN will take more than 1400 booths, out of a total of 4200, in the upcoming China-ASEAN Expo (CAEXPO), China’s State Council Information Office announced recently.
(Volume 30, No. 589 - August 22 - 28, 2011)
B&P industry expecting boost
THE beans and pulses export industry is set for an “immediate boost” from a combination of higher demand from India, the major buyer of Myanmar’s crops, and the major tax cut that effect from August 15.
(Volume 30, No. 589 - August 22 - 28, 2011)
Commerce officials aim to quadruple Bangladesh trade
Trade in the 2010-11 financial year, which ended on March 31, amounted to almost $140 million, with Myanmar enjoying an upper hand in terms of exports a Ministry of Commerce official said. Myanmar exported goods worth about $125 million and imported products worth about $11 million, he added.
(Volume 30, No. 589 - August 22 - 28, 2011)
Made in Myanmar expo in August
“MADE in Myanmar” is the name and theme of a product expo that will be held from August 26 to 28 at the Tatmadaw Hall in Yangon, according to one of the show’s organisers.
(Volume 30, No. 589 - August 22 - 28, 2011)
Business Brief
- Low-grade jade sale sells out
- Malaysian imports soar: Commerce Min
- Industrial zones at borders proposed
(Volume 30, No. 589 - August 22 - 28, 2011)
