The Customs Department, Ministry of Planning and Finance, announced on December 27 that taxes on exports and imports will be collected at the rate of the weekly foreign exchange based on the market exchange rate starting January 1 2025.
The move will be a change in the current practice of collecting export and import taxes at the weekly exchange rate based on the reference rate published by the Central Bank in 2025.
The weekly foreign exchange rate based on the market exchange rate will be also announced on the Customs Department’s website and social media platform Facebook page on a weekly basis.
The daily reference exchange rate published by the Central Bank is 2,100 kyats per US dollar, and the rate issued by the Central Bank through the FX Market Online Platform on December 27 is 3,588 kyats per US dollar, according to the Central Bank.
