YANGON, Sept. 1 (Xinhua) -- Myanmar's Ministry of Finance and Revenue has extended tax exemptions on imports of high-speed diesel, liquefied natural gas (LNG) and fertilizers through Sept. 30, 2026, the state-owned daily The Global New Light of Myanmar reported on Tuesday.
The exemptions, which were previously in effect from April 1 to Aug. 31, have been extended for another month from Sept. 1 to 30, according to public notices issued by the ministry.
The extension of the tax exemption on imported high-speed diesel (HSD 500 ppm) is aimed at helping stabilize the prices of basic commodities amid rising global fuel prices caused by ongoing conflicts in the Middle East, which have also affected transportation costs for essential goods distributed by diesel-powered vehicles, the ministry said.
The ministry has also extended a two-percent advance income tax exemption on imported fertilizers to support the continued development of the agricultural sector and reduce production costs for farmers, it said.
For imported LNG, customs duty, commercial tax and advance income tax will remain exempt to support power generation and help reduce electricity costs amid rising global fuel prices, the ministry said. ■