US$983 million worth of jade exported
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Myanmar exported 80,000 tonnes of jade worth US$983 million from April 1 to the end of December, 2014-2015 fiscal year which is lower than last fiscal year.
During the same period of last year, more than 160,000 tonnes of jade worth US$1 billion were exported.
Myanmar jade are mainly exported to China and Hong Kong. Finished jade products are also purchased by India and Japan.
Tax percentage on special commodities under commercial tax included in Union Tax Law was changed and approved by the Parliament on March 10, 2014 and 30 per cent tax will be charged on jade, ruby, sapphire, emerald, other precious jewels and raw gems.
In 2011-2012, about 47,603 tonnes of jade were produced, in 2012-2013– about 21,032 tonnes, and from April to August of 2014 – about 4,070 tonnes, according to the Directorate of Investment and Company Administration.
Investment volume by local business people in Myanmar mining sector is over US$13.007 million by the end of July 2014.
Although jade from Myanmar are allowed to export officially to foreign countries, illegal exports through border regions are on the rise.
