The detail of the real estate related news

Construction needs the help of government to development

Myanmar real estate news
In the meantime, needed the support of Yangon Region Government which the central government to build up decreasing of construction sector, said Construction developer.

They are requested, including the preparation for tax rates and interest rates policy reforms.

“Current pay of property tax rates are numerous compared with foreign countries that want to rethink on that issue,” said U Myo Myint, Chairman of MKT Construction Industrial.

The current collecting tax rate is way to get income by buying the property with white money. For that addition to pay for stem is 4 percent and not necessary for tax pay. If purchase with black money 300 Lakhs cost for a house then the tax rate is 15 percent, 20 percent for above from three hundred lakhs to one thousand million and the tax rate is 30 percent for above one thousand million are limited to pay income tax.

But most of the buyer to such as condominiums, high flats and expensive real estate have less income and paid the tax for 30 percent, according market resource.

In the other side, such collection were happened in the same way.