September 22, 2016

Breaking News

Income tax on permit-fee cars reaches over Ks13,700 million

The income tax  levy was imposed on permit-free cars starting 2nd June.
The income tax levy was imposed on permit-free cars starting 2nd June.

The income tax levied on permit-free cars reached about Ks13,743 million, according to the Internal Revenue Department.
The levy was imposed starting 2nd June, and since then there are about 100 cars whose owners pay income tax per day. About 8,376 cars, mostly with 1300CC engine and commercial used cars with 660 CC engines, individually pay the tax. Although permit-free cars have to pay income tax, that money can be reimbursed at the township offices of the Internal Revenue Department. But there is a delay which monthly and yearly income taxpayers often encounter, it is learnt. The deregistration of old, scrapped old in Yangon Region reached over 120,000 as of September, it is learnt from the Road Transport Administration Department (RTAD).
Over 15,000 deregistered cars are locally produced vehicles that have been used for over a decade. The deregistration of the scrapped cars is decreasing. The car owners can deregister their cars once the cars are over 20 years old. The deregistration of the scrapped old cars began in September, 2011 and the cars which substitute those deregistered old cars are permitted to import, it is learnt from this department.  Previously, the deregistration was allowed for 40-year-old cars. The 20-year-old cars and 10-year-old locally produced cars are permitted to deregister later on.
Previously, the deregistration had to be done at the Myintha RTAD office in the western district of Yangon Region and at the Myingyan RTAD office in Mandalay. Starting from 2nd February, 2016, the deregistration of the old, scrapped cars can be made at the townships and districts concerned.


Ko Htet


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