12 Oct 2017
MYANMAR: Imported Automotive Parts Subject to Immediate Tax Hike
The import tax on a range of automotive parts is to be raised with immediate effect. Among the components affected are parts for commercial vehicles, including trucks, buses and vans with more than nine seats. All such items will now be liable for import duty of 7.5%, a substantial rise on the 3%-5% previously payable.
As for passenger vehicles of nine seats or less, such as cars and sports utility vehicles (SUVs), spare parts for vehicles with an engine size of up to 2000cc will be taxed at a rate of 10%, while vehicles with engine sizes in excess of 2000cc will be taxed at 20%. The tax on all such items was previously payable at a uniform rate of 5%.
This latest hike to import levies forms part of an ongoing review of the country’s duty regime, with a view to bringing it in line with existing ASEAN tariffs.