Tax on property rental

Property rental Tax is set by the rental received on the following types of properties:

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  1. Residential and commercial buildings or properties
  2. Industrial and commercial installed equipment
  3. Floating water crafts / homes or ships used as homestay or place of business
  4. Land without buildings used for stone, mine and coal extraction, lakes and salt pan field
  5. This tax is collected from proprietors or leaseholders

Tax Rate:

The tax rate is equivalent to 10% of the gross rental. This gross rental must be included in the lease agreement.

Sample:

5 apartment units

Rented at $200 per week

Rental rate $200
Number of apartment units 5
Property Tax 10% ($200 x 5 ) x 10% = $100

How to register:

To register to become a taxpayer for property tax, the first thing you must do under this law is to register at your tax branch. You only need to register the property if it’s worth $25,000 or more. You should go to your tax branch where the property is located and complete two forms: PT01 and PT02.

When are tax payments due?

The tax payment is an annual obligation due by September 30th.

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