HomeMMBIZ NewsIRD to Form Group to Collect Rental Tax

IRD to Form Group to Collect Rental Tax

An assistance group for rental tax collection will be formed for Yangon within this financial year, said U Min Htut, director of the Internal Revenue Department (IRD).

“We will form the assistance group within this year to collect taxes from regular income and also from the house rentals. The group will include officials from Internal Revenue Department, township administrators, relevant ward administrators and police forces,” the director said at a meeting with restaurant owners at the IRD office.

Since June, the IRD has required house owners pay taxes for house rentals, but only a few have submitted the payment, according to the department’s announcement.

“We might have greater success after the formation of this group. All we can do is to watch this group’s actions regarding tax collection. What I can say is that we may see an increase in revenue once those teams are formed,” said U Min Cho, head of Mi Ba Myitta Real Estate.

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