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MYANMAR: Tax Dodging Property Developers Face Building Completion Certificates Blacklist

All real estate developers and construction companies found to have evaded taxes will be denied the Building Completion Certificate (BCC). Without such a certificate, as statutorily issued by the local Township Development Committee, no newly-constructed building can be approved for residential occupancy or commercial use.

Effective in July, no BCC will be issued until an applicant can demonstrate that all relevant taxes have been paid. In addition to this, any tax-defaulting company may also face criminal prosecution. As a further sign of the government’s crackdown in this sector, the country’s Internal Revenue Department will also be conducting inspections at construction sites in Yangon and Mandalay in order to identify potential tax defaulters.

Content provided by Picture: HKTDC Research
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