Myanmar Property Tax

Myanmar Property Tax

As Myanmar starts to open up its property market to foreigners, massive amount of interested investors are ready to take the first mover advantage opportunity. Understanding Myanmar property tax policy is one crucial factor that you must consider before making the move because it will part of the cost involved so that you can understand more about the cash outlay needed on your purchase.

Type of Myanmar Property tax

  • Rental income tax
  • Stamp duty on rental income
  • Capital gain tax
  • Stamp duty on sale of property
  • Annual property tax
  • Corporate tax (income tax and capital gains tax)

Myanmar rental income tax

The taxable rental income tax is derived from the gross rental income minus off income generating expenses.

Taxable Income, MMK, US$

Tax Rate

Up to 2 Million (USD 1,709)

0%

2 - 5 Million (USD 4,274)

5%

5 - 10 Million (USD 8,547)

10%

10 - 20 Million (USD 17,094)

15%

20 - 30 Million (USD 25,641)

20%

Over 30 Million (USD 25,641)

25%

Currently we don't have the full list of what are the expenses can be deducted as the market is still developing and just started opening up. We will update you once there is clearer policy being announced.





Stamp duty tax on rental income

Rental Period

Rate

Up to 1 year

0%

1 - 3 year

1.5% of annual average rent

Over 3 years

3% of annual average rent

Myanmar capital gain tax

Taxable capital gain is derived from sale of the property minus off property purchase price, acquisition cost and transaction cost from the sales proceeds. Capital gain are taxed at flat rate 10%.

Stamp duty on sale of property

Location

Rate

Yangon

7% of property value

Outside Yangon

5% of property value

Annual property tax

Myanmar property tax paid annually is derived from property annual value or annual gross property rent if it is leased unfurnished.

Classification

Tax rate

General tax

20% of annual value

Lightning tax

5% of annual value

Water tax

12% of annual value

Conservancy tax

15% of annual value

Corporate tax

If you buy the property under company name, 10% income tax rate is applicable on the net rental income. Capital gain tax for corporate is generally subject to corporate income tax at flat rate of 10%. Taxable capital gains are calculated by deducting the following from the sales proceeds: acquisition costs and additional expenses, and any allowable tax deduction.

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