Revenue Dept to Improve Tax Collection from Soaring Rent Rates

YANGON — The Department of Internal Revenue announced Monday that it would improve tax collection on income earned from rent rates across Myanmar and warned property owners to submit their earnings from rent soon. The announcement comes at a time of skyrocketing rent rates in the country’s commercial capital Yangon, which has seen companies and […]

Yangon Rental Costs in the Spotlight After Unicef Outcry

YANGON — Following an outcry over the revelation that the United Nations Children’s Fund (Unicef) is paying a steep rental fee to a former military official, other international organizations operating in Myanmar are facing calls to be transparent about their rental arrangements in Yangon. Last week, Unicef admitted that it pays US$87,000 per month for […]

Insein alternative to downtown property market

The residential property market in outlying Yangon townships Insein and Shwe Pyithar is often overlooked but offers more spacious and affordable housing than downtown condos, real estate experts said. Frequently shunned by renters wanting to be closer to the hectic downtown grid, the northern townships of Insein and Shwe Pyithar boast landed property available for […]

Industrial zone’s chairman blames electricity, soaring dollar prices for labour protests

Electricity failures in industrial zones and a hike in the exchange rates against the US dollars are the main reasons for labour protests, Hlaingthayar Industrial Zone chairman Myat Thin Aung said on Tuesday. He made the comment at the anniversary meeting with entrepreneurs of Hlaingthayar Industrial Zone held at the industrial zone’s administrative office on […]