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Property Brokers in Mandalay Fight to Reduce Tax

29 January 2014

Real estate agents in Mandalay are petitioning authorities to cut a 37 percent property transaction tax imposed in August 2012, reports OPP Connect, a UK-based media group that reports on overseas property markets. According to the report, brokers in Burma’s second-largest city met last week to form a Mandalay Region Real Estate Brokers’ Association in response to an invitation from the government for property agents to become more involved in policy. “We have to submit proposals by Feb. 11 relating to property fixed standard prices. We will also suggest reducing the 37 percent property transaction tax,” said Wunna Soe, a broker who attended the meeting.