The detail of the real estate related news

Because of the new property tax implication the real estate market may down

Myanmar real estate news The government has already prepared to collect systematically of current weak property tax system in Myanmar.

“Aiming to eliminate the monopoly real estate in the country to oversee tax collection law has been submitted and will be released soon,” said Project and Finance Ministry vice Minister U Mg Mg Win on December 30, 2017. Because of that the government is certain of to handle concerning with property tax. According to ministry the draft law had already reported to Attorney General’s Office and it will be likely to reach soon in Hlawttaw.

U Tin Ko Ko Oo, Mon Bilin Lawmaker said, “all citizen should have property ownership and to access more foreign investment and the minister suggested to resolve that matter as a plan the law.”

While the rich people owned a lots of properties there are a lots of people who does not have even their own house. This occurred because of the landlords are sell the properties as they like rather than usual price,” said U Tin KoKo Oo.

As government in order to get down real estate price by collecting the property taxes may control the real estate market, said at Hlawttaw.