Key takeaways
- The Ministry of Planning and Finance (“MOPF“) has recently issued Notification 89/2024 (“Notification 89”), updating the procedures for the Authorized Economic Operator (“AEO”) program in Myanmar. This notification repeals the earlier Notification 21/2018 on AEOs and became effective on 27 December 2024.
- Notification 89 introduced a two-tier AEO system with specific requirements and benefits for each level.
- AEO Level 1 represents the initial AEO recognition. AEO Level 1 companies will be entitled to customs benefits such as prioritized customs processing, advance declarations, and a one-month tax deferral, among others.
- AEO Level 2 applies to companies already certified under AEO Level 1 that aim to achieve higher certification by adopting stricter compliance measures. AEO Level 2 companies will be entitled to the AEO Level 1 benefits along with additional privileges. This includes having dedicated fast-track channels and access to Mutual Recognition Agreements. These Agreements facilitate faster customs clearance and fewer inspections in partner countries, promoting global trade and strengthening supply chain security.
- An AEO certificate is valid for three years and can be renewed prior to its expiry.
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Diberjohn Balinas
Tax Partner
Cambodia, Myanmar
Diber is a Tax Partner and a member of DFDL’s Regional Tax practice group.
Nay Nay Eaint
Senior Tax Manager
Myanmar
Nay Nay is the Senior Tax Manager of the Myanmar and Cambodia practice groups.