After the ministry of commerce (MOC) allowed the imports of foreign liquor, the Internal Revenue Department (IRD) announced on August 17 that liquor businesses to submit the declaration form at the respective township revenue departments from August 21-28. It will not accept forms that are late and action will be taken against those are processing, storing, distributing and the retail and wholesale of foreign alcohol without the A1 tax stamps in accordance with the Special Goods Tax Law.
According to the 2020 Union Taxation Bill, businesses will be taxed between K199 and K14, 428 per liter if the alcohol price is under K15, 000. If it’s over K15, 000 will be taxed 60% of the products’ value.
Source: The Myanmar Times
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