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Business News Digest
Digitalizing customs Start registration in April
Japan is supporting Myanmar to digitalize its customs clearance system and as a step to launching full operations by fall, the system will start recording information on customs and shipping companies in April. Up to now, all customs clearance has been done by paper so digitalization is expected to shorten the processing time.
The system is called MACCS and is a customization of Japan's NACCS. Japan supported the project with grant aid and technical assistance. Import applications and procedural documentation will be done over internet. By automating procedures, an application which used to take three days from submission to license can be reduced to several seconds at the shortest. Before the system becomes operational in November, the tax authority will shift from using its method of authority's determining the import value for taxation towards a method where the importer declares the import value and taxes are paid on actual import value.