The issuance license for the mineral( gold) entrepreneurs is just to register the business and is not meant for tax purposes, said Minister for Natural Resources, Yangon Region Government U Zaw Win said. The Minister said it at (16) annual general meeting of Yangon Gold Entrepreneurs Association (YGEA) held at Panda Hotel on January 12.
The license for mineral(gold) must be applied from November 18, 2024 to February 17, 2025. The gold entrepreneurs who fails to apply for license may face difficulties after February 17, said the Minister. It is reported that some of the standards of data the applicants must submit when apply for the mineral(gold) license are relaxed.
The individual or company license holder must comply with the reference rate set by the Mineral(gold) Reference Price Determination Committee in trading the mineral(gold). Furthermore, daily and monthly transactions and balances must be submitted and it is also specified not to store and trade with the purpose of destabilizing the gold market. Currently, only more than 130 Mineral (Gold) license applications out of 997 were returned.
