Site icon Global New Light Of Myanmar

Take severe action against illegal traders under restricted rules

Article

The government eases some restrictions related to trade in conformity with the changing systems while minimizing the illegal trade and tax evasion of businesspersons.
Illegal trade is one of the factors to hamper the economic development of Myanmar. The booming of the illegal trade sector hinders all legal work processes. Declining of the border trade volume is related to the illegal trade as figures of legal trade of Myanmar with neighbouring countries are very different from that of the illegal trade.
Myanmar stands in the 82nd position of 84 countries across the world in the illegal trade index 2018 based on four indices such as policy, demand and supply, transparent trade and customs procedures.
As illegal goods flow into the country via border areas, micro-, small- and medium-scale enterprises face hardship, in the long run, to compete with that of illegal trade.
The government formed the Committee on Ensuring Smooth Flow of Trade and Goods on 20 February 2021 to prevent illegal trade in line with the provisions from the duty and functions of the committee.
Only when the authorities take deterrent action against those who violate the illegal trade measures will businesspersons reach the route of legal trade. Consequently, tax for the State can be earned from the increasing legal trade volume. Verily, businesspersons need to compete in the market with their products through fair rules in order to develop the economic sector of the State.
The Illegal Trade Eradication Steering Committee constantly monitors the trade process through shipping, aviation and borderlands. It aims to scrutinize the trade process for levying the deserved tax for the State under the rules and regulations of respective departments.
Currently, the combined task forces perform the checking of illegal trade products at the Yaypu checkpoint on Mandalay-Muse Union Highway and the Mayanchaung checkpoint on Myawady-Yangon Union Highway. The task forces seize a large volume of illegal trade products on a daily basis. Businesspersons commit illegal trade processes in various ways not to pay tax to the State while violating the rules of trade for gaining profits beyond the income of legal trade for businesspersons.

Indeed, everybody knows illegal traders cannot escape from legal action for their violation of existing rules and regulations. That is why they all need to change their mindsets in the trade process for the State and the people.

Indeed, everybody knows illegal traders cannot escape from legal action for their violation of existing rules and regulations. That is why they all need to change their mindsets in the trade process for the State and the people.

Exit mobile version