Ministry of Commerce deputy minister U Aung Htoo proposed an increase of import licensing fees to the Union Parliament on August 26, citing a decrease in imported goods. The new licensing structure would raise fees from between MMK 30,000 to MMK 90,000. Currently, MMK 50,000 is the maximum import license fee, according to a Myanmar Times report.
Myanmar has gradually decreased it number of imported products and total annual value of its imports since 2017, according to World Bank data. Aung Htoo pointed out that Ministry of Commerce revenue is MMK 313 million shy of its goal of MMK 4.16 billion for the 2018-2019 fiscal year, which ends September 30. The higher fees would help to fill the ministry’s revenue gap as total imports gradually drops from China, Japan, India, Indonesia, Germany, France and Hong Kong, which are Myanmar’s biggest import partners. Mineral fuels, machinery, computer parts, vehicles and fabric are among the top imported items. In 2018, Myanmar imported USD 24.2 billion worth of goods.
Aung Htoo did not discuss a timeline for the proposed fee hike, and whether or not parliament will implement it at all remains to be seen.
