Good morning friends .... Now govt will take 2% advance tax from - TopicsExpress

Good morning friends .... Now govt will take 2% advance tax from 14 June coming Friday , the procedure is as below . For example suppose we sold bmp FAQ 5fcl and contract price is 605 US$/mt then we have to pay about 1360000 kyat to income tax office recommend bank (bank 2, in pansodan street) before loading and if we show that bank receipt to custom then custom will allow for loading. Calculation is as below . 605*120=726000 $ 726000*940=68244000 Kyats 68244000*2%=1364880kyats ,that we have to pay when we filed the custom dox , although we have no profit 1364880 Kyats in selling 5fcl of FAQ in fob . India exchange rates is going sky about 56.75 , now all India buyers who discharging cargo at india port facing loss because of exchange rates and that why all India buyers now afraid buy in this level of mkt. So my idea is myanmar local mkt will start to going down from 14 June because of adv tax.

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