Customs tariff relief announced for SKD, CKD fuel vehicle imports with MIC

Imports of fuel vehicles that are to be domestically assembled under the semi-knocked down system and entirely built up (completely knocked down) system with the permit of the Myanmar Investment Commission are eased Customs tariff, according to Notification 42/2024 of the Ministry of Planning and Finance released on 30 May.
In the exercise of the power entrusted by Subsection (D) of Section 3 of the Customs Law, the ministry released that notification with a view to supporting economic recovery and micro, small and medium-sized enterprises (MSMEs). The directive is effective from 1 June 2024 to 31 May 2025.
According to the Myanmar Customs Tariff 2022, the previous Customs duty for personal vehicles under 2000 CC was set at 30 per cent for completely build-up vehicles, 7.5 per cent for SKD vehicles and five per cent for CKD vehicles. The reduced amounts are five per cent for SKD vehicles and three per cent for CKD. For personal cars above 2001 CC, tariffs were cut to five per cent for SKD and three per cent for CKD from 40 per cent for CBU, 7.5 per cent for SKD and five per cent for CKD. The tariffs for personal three-wheelers were reduced to three per cent for SKD, 1.5 per cent for CKD from 20 per cent for CBU, 7.5 per cent for SKD and five per cent for CKD.
Moreover, auto parts for trucks, body and building, commercial three-wheelers, and buses were set at 10 per cent for CBU, 7.5 per cent for SKD and five per cent for CKD. They are now at three per cent for SKD and CKD, respectively. The tariff for motorcycles was also reduced to 1.5 per cent for SKD and CKD compared to the previous duties of five per cent for CBU and three per cent for SKD and CKD. — NN/EM