The values will be used by the Customs Department to calculate duties on imported vehicles and can significantly influence prices.

The values are being updated as customs duties on vehicles imported into Myanmar had been calculated since 2018 under the World Trade Organisation’s Agreement on Customs Valuation, without taking into consideration updated CIF values, customs officials said.

“We’ll issue the CIF values for imported vehicles soon as there are many different categories of vehicles to take into consideration. Once this is done, this will bring us in line with international practices,” said an official from the Customs Department.

In 2017, the CIF value of vehicles with engine capacities of 1,350cc was set at US$5,000 (K6.9 million). – Translated

Source: https://www.mmtimes.com/news/new-cif-value-imported-cars-be-released-soon.html