Import Of Material

This query is : Resolved

Pawan Patil (Querist)
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25 November 2008 Dear Sir,

I want import material from abrod
What formalities I have to do

With best regards

Vilas Choudhari

Ravikumar.G

Ravikumar.G (Expert)
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25 November 2008 1. Procedures for Export and Import
An enterprise permitted under the Foreign Investment Law has to be registered as exporter importer upon business recuirement. with the Export Import Registration Office, Directorate of Trade.
The Registration of Exporters/Importers
The following persons or enterprises can be registered at the Ministry of Trade as exporters/importers:
A citizen or an associate citizen or a naturalized citizen of the Union of Myanmar
Partnership firms
Limited companies or joint venture corporations, formed under the Myanmar Companies Act 1958 or Special Company Act 1950
Co-operative societies, registered under the Union of Myanmar Co-operative Law, 1970
Registration Fee
The fee for registration as exporter/importer is Rs 5,000 for one year and Ks 10,000 for three years. The same fees are payable on renewal.

Ravikumar.G

Ravikumar.G (Expert)
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25 November 2008 Import licence fees are payable on all imports from abroad, it includes those imports for which import permits are not required, those imported by means of a permit, an import licence or open general licence; imports through the border and those imported for general trading purposes by the State Economic Enterprises (SEEs), government departments, co-operatives and private enterprises. Licence fees must be paid according to the specified rate for import of goods on consignment basis either by SEEs or private enterprises and entrepreneurs.With a view to reducing the cost of living and to being competitive under the market economy, the Ministry ofTrade has issued an Import Licence Fees Order on June 28, 1991, revising the licence fees payable on commodities imported from abroad with effect from July 1, 1991.

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Ravikumar.G

Ravikumar.G (Expert)
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25 November 2008 Import Procedure
Registered importer is required to open foreign exchange account at a Bank in order to apply for an import licence from the Directorate of Trade.
In applying for an import licence, the application shall have attached the sales contract and/or proforma invoice mentioning detailed specifications, mode of packing, and delivery phasing.
Import licence fees payable on the C.l.F. (Yangon ) value of the goods imported from abroad is mentioned under Chapter IV.
An irrevocable letter of credit (L/C) has to be opened by the importer at the Bank.
If the purchase is made on F.O.B. basis, the importer has to secure insurance from Myanma Insurance and freight booking from Myanma Five Star Line.
After receiving shipment advice from the suppliers, the importer has to arrange for the clearance of the goods.
2. Customs Clearance Procedures for Export and Import
The Tariff Law was enacted on March 12, 1992 with a view to assisting the market economy system in order to facilitate external trade. In accordance with the Law, a notification was issued to regulate the classification of imported goods and assessment of duties. For modernisation and standardisation, in line with the international practice, the Harmonized Commodity Description and Coding System (H.S) was introduced in April 1992.
Customs Declaration Form for Import/Export Clearance
Import
Under the existing rules and regulations all incoming consignments of goods must be cleared through the Customs Department under an Import Declaration form (CUSDEC - 1). The Import Declaration form is to be accompanied by the following documents: -
Import licence / permit
Invoice
Bill of Lading or Air Consignment Note
Packing list
Other Certificates and permits issued by the relevant Government Departments as a condition for Import.
Customs duty is payable according to the tariff schedule. Import duty is levied on the tax base, assessable value, which is the sum of C.l.F. value and landing charges of 0.5 per cent of C.I.F. value. Together with customs duty, Commercial tax is levied on the imported goods basing on the landed cost which is the sum of assessable value and import duty. These taxes are collected at the point of entry and the time of clearance.