EV import licence to be granted for car showrooms

MIP4 sskm
A glimpse of newly arrived battery electric vehicles ( BEVs).

The steering committee on National-level Development of Electric Vehicles and Related Industries announced that car showrooms will get approved for EV imports when they are found to comply with the set rules and regulations.
The committee has authorized 83 companies to carry out EV and related businesses, including two companies executing only charging stations and operating E buses. Yangon Aerodrome Company and Pioneer Aerodrome Company are involved in charging stations. At the same time, Mandalar Min Express Trading Transportation Company and Yar Zar Min Industry Company do e-bus operations.
Starting from 1 February, the showrooms of those authorized companies for EVs and related businesses that meet the set requirements are granted import licences for EVs.
The committee for the development of importation, installation and investment of Electric Vehicle and associated businesses held the coord meetings with EV importing companies in April and June and has already notified them not to make more than 20 per cent profit on CIF price, not to advertise online and not to make pre-order without vehicles arriving at the Port.
The committee warned that if the companies violated those policies, they would get their export and import licences revoked and face legal action under the Consumer Protection Law.
Importation, manufacturing and trading of battery electric vehicles (BEVs) and their components are exempted from commercial tax, according to Notification 4/2023 released by the Union Government on 8 May 2023, in the exercise of the power conferred by Section 37 of the Union Tax Law 2022, under the approval of the State Administration Council.
Also, according to the Ministry of Planning and Finance, the customs duty exemption on electric vehicles (EVs) and their components was extended until the end of March 2024.
Myanmar Investment Commission also released a statement on 15 February that electric vehicles and related businesses will be promoted as the priority sector as per its notification dated 15 February.
In exercising the power conferred by Sections 43 and 100 (B) of the Myanmar Investment Law, the MIC issued this statement under the Union government’s approval.
Enterprises executing installation, manufacturing and restoration services of the EVs, renewable electricity generation, EVs charging service businesses, electric vehicle battery production, EV battery and related service business, electric bus operation services, electric taxi and transport service businesses and scientific research development business are included in those priority sectors.
During the establishment and ideation phase for incorporation and operations, those businesses can seek permit from the MIC to enjoy tariff relief or zero-customs tariff status and exemption for other taxes levied in the country under Section 77 (A) of the Myanmar Investment Law and income tax exemption under Section 75 (C) of the Myanmar Investment Law for the importations of machinery, essential equipment and accessories, spare parts and construction raw materials that cannot be found in domestic markets.
According to the Ministry of Commerce, Myanmar has been bringing in EVs and EV chargers under the customs tariff relaxation through seaborne and border trade routes in addition to the Yangon International Airport. — NN/EM

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