ASSUME you have compiled necessary documents to apply foreign bank account. You are supposed to submit by hand and wait until your name is being called. No surprise if you see Myanmar's sole foreign trade bank staffs are still using Leger instead of widely recognized computerized system. It's really happening to our office that is anti-productivity. The premise to handle those submitting forms are relatively small space packed with about 10 counters back to back. Applicants are squeezed amidst those wooden counters. There are no battery run loud speakers to call right person. It make people unable to leave counters after submitting their application form to open account. Sadly, one table cannot finish things to be done and will ask applicant to go around the office manually. Another headache to lines up while keep questioning each other. No air-conditioned room make people get easily sweat. But still cannot deter people to go there with the prospect of getting a car permit. In brief, it take me about two working days for preparation and another one working day for processing. After getting account, next step is to deposit US Dollar to the brand new bank account. The amount will be calculated by bank staff based on income tax slip.
The formula is 10 times what we have paid taxes to government. Then, the applicant could expect to get 50% of those multiplying amount for grant in ceiling. The rule said shore job workers can import car not less than 2007 model. Above 2007 models are considered recently produce cars and expensive. It make shore job workers unable to afford to buy themselves. It leads them to sell permit to rich people who want to buy new car. It's understandable that shore job workers are mostly from poor family background and their earnings have been used in the daily needs of their family's expenses. Since they are low paid workers, where got few thousand US Dollar in their saving? It's impossible for majority of shore job workers. Thus it's inevitable to sell back rich people in order to make some profit from the rare opportunity.
While exchanging car permit is valued at 100 to 150 lakhs Kyats, shore job permit can draw only 20 to 30 lakhs due to its high model rule. In order to get a good car, the amount can go as expensive as 50,000 USD. It means bank saving have to get 100,000 USD and one have paid income tax for 10,000 which is pretty much and not realistic to most of shore job workers. For instance, I have been working in foreign land for 7 years now and I have paid income tax loyally to date. Even for me, I could able to sum up for about USD 2,500 which mean I need to deposit 25,000 USD and will get USD 12,500 permit if everything goes right. In fact, that amount can purchase for small cars with 1300 cc engine power. I cannot buy luxury car with that amount. Do not misunderstand with that. I can't afford to deposit even USD 12,500 myself. Thus I sell my permit to a rich man and let him deposit for me. I just get some amount for using my tax slips and signature.
(To be continued)
The formula is 10 times what we have paid taxes to government. Then, the applicant could expect to get 50% of those multiplying amount for grant in ceiling. The rule said shore job workers can import car not less than 2007 model. Above 2007 models are considered recently produce cars and expensive. It make shore job workers unable to afford to buy themselves. It leads them to sell permit to rich people who want to buy new car. It's understandable that shore job workers are mostly from poor family background and their earnings have been used in the daily needs of their family's expenses. Since they are low paid workers, where got few thousand US Dollar in their saving? It's impossible for majority of shore job workers. Thus it's inevitable to sell back rich people in order to make some profit from the rare opportunity.
While exchanging car permit is valued at 100 to 150 lakhs Kyats, shore job permit can draw only 20 to 30 lakhs due to its high model rule. In order to get a good car, the amount can go as expensive as 50,000 USD. It means bank saving have to get 100,000 USD and one have paid income tax for 10,000 which is pretty much and not realistic to most of shore job workers. For instance, I have been working in foreign land for 7 years now and I have paid income tax loyally to date. Even for me, I could able to sum up for about USD 2,500 which mean I need to deposit 25,000 USD and will get USD 12,500 permit if everything goes right. In fact, that amount can purchase for small cars with 1300 cc engine power. I cannot buy luxury car with that amount. Do not misunderstand with that. I can't afford to deposit even USD 12,500 myself. Thus I sell my permit to a rich man and let him deposit for me. I just get some amount for using my tax slips and signature.
(To be continued)
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