December 16, 2016

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1800 cc and above imported cars to pay special freight tax

Yangon has seen an increase in number of cars since the country opened up in 2011. Photo: Moore Zack
Yangon has seen an increase in number of cars since the country opened up in 2011. Photo: Moore Zack

Imported Cars with 1800 cc and above engine will be imposed special freight taxes, said Myanmar Customs Department.
CIF five per cent is also added to custom duties. Obviously, 1800 cc cars are not meant for all strata of people. Besides, these cars are in low demand at the market. Increasing the tax means the restricting of cars with heavy engines. “The price of cars are changed based on the tax”, said U Aye Kyaw, the responsible  person from car dealers’ association.
Imported cars below 1800 cc will be assessed only for just commercial tax.
“1300 cc cars such as Probox, Honda Fit and Nissan ADvan are selling well whereas there’s a low demand for 1800 cc cars. The price of cars with 1300 cc engine will remain unchanged at the market, said U Zaw Zaw, a car dealer.
The trading of cars dropped down at car market. But it gets back to the normal trading again. A Probox with cc 1300 engine sells from K 10.5 million to 11 million and a Honda Fit from K 12 million to 15 million at car market.—MLT/Union Daily

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