The Customs Department has announced that collecting taxes on imported and exported goods at the weekly foreign exchange rate based on the daily market exchange rate published by the Central Bank, will go back to collecting taxes on the weekly foreign exchange rate based on the Central Bank’s daily reference exchange rate starting from January 25.
Until the end of December 2024, the department had collected taxes on imported and exported goods at the rate based on Central Bank’s daily reference exchange rate of 2,100 kyats per US dollar. Starting from January 1, 2025, it changed the practice of collecting the taxes at the market exchange rate of around 3,500 kyats per US dollar. Now, it will go back to the practice of collecting taxes at the raye based on the daily reference exchange rate published by the Central Bank.
Currently, the Customs Department publishes the exchange rates to be used in collecting various taxes for import and export businesses every week. From January 25 to February 1, the reference exchange rates to be used in collecting various taxes as announced by the Customs Department are 2,100 kyats per US dollar, 286.424 kyats per Chinese yuan, 60.544 kyats per Thai baht and 24.292 kyats per rupee.
