Written by Admin on October 10, 2013. Posted in Business, News
Property price estimation committee will set the fixed price rate for
property in the country's most populous city Yangon, according to the
Deputy Fnance Minister Dr Maung Maung Thein.
Pyi Myanmar reported that the ministerial committee will later set the
prices in other parts of the country.
The estimation is to prevent loss of tax for the state, said the
deputy minister.
"Now, property price rate is Yangon is being set.
It would continue with the price rates in regions and states," Dr Maung Maung Thein is quoted as saying by Pyi Myanmar.
The estimation in Yangon is in the trial period and is not for the
sale on the ground but for taxation, he added.
The rate will be adjusted at any point in the future depending on the
market prices.
The estimation has no effect on the market and there are declines in
changing ownership of the land, another challenge for the tax
collectors.
Source: http://www.news.myanmaronlinecentre.com/2013/10/11/government-committee-sets-property-price-rate/
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