Based on the latest announcement from the Internal Revenue Department, we would like to inform all individuals involved in the buying and selling of real estate (land, houses, buildings, and apartments) about the following updated requirements:
Key Highlights:
- Effective Date: The new regulation will take effect on September 1, 2026.
- New Mandatory Requirement: When registering property contracts registered at the Deeds Registry Office, or applying for a change of ownership at the Department of Urban and Housing Development (DUHD) and the Yangon City Development Committee (YCDC), submitting only the buyer’s income tax clearance is no longer sufficient. It is now mandatory to also submit the Seller’s Capital Gains Tax Clearance Certificate.
- Advice for Real Estate Buyers: When the buyer undergoes income source verification at the relevant township tax office during a transaction, the seller should simultaneously be assessed for whether Capital Gains Tax applies. To ensure the seller obtains the necessary tax clearance certificate, we strongly advise buyers to request this from the seller right from the initial negotiation stage of the transaction.
Issued by: Internal Revenue Department
