One-year licence fees exemption granted in tourism sector

LOCAL NEWS

By Nyein Nyein

The tour businesses are exempted from licence fees for one year starting from 1 April to 31 March 2021, announced the Ministry of Hotels and Tourism (MoHT) on 16 April.
MoHT has exempted the tour businesses from licence fees for one year to ensure the sustainable development of the hotels and tourism sector and for the sake of the travellers.
MoHT has formed the local tourism committees in the states and regions under Myanmar Tourism Law (2018). These committees collect both new business licence fees and licence renewal fees for the hotels and the guesthouses in the tourism industry in the states and regions.
Myanmar tourism industry has adversely been affected by the outbreak of Covid-19 as in many other countries around the world. So, MoHT has exempted the businesses in the tourism industry from the new licence fees and licence renewal fees for one year.
Besides, the hotels and tourism sector, CMP, the small and medium enterprises which are mostly affected by Covid-19 are designated as the priority sectors. A working committee to remedy the economic impacts of Covid-19 has been set up to issue loans amounting to K100 billion from the Covid-19 fund. The committee will grant one-year loans to these priority sectors with a low interest of only one per cent.
If the businesspersons fail to give back the loans, they will have legal action taken under the existing law. In the event of failure to return the loan together with the interests due, they will be recorded on the blacklist of the credit bureau, and they will no longer receive the loans from the banks and other financial institutions, according to the working committee to remedy the economic impacts of Covid-19. (Translated by Hay Mar)

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