Property Tax


Property tax is levied on properties either (i) used as self-residence or (ii) let out for rental income.


The tax rate is depending on whether it is used as self residence or let out for rental.

  • Self-resident properties are taxed at 1.2% on the remaining value of the property, which is defined as the original purchase price less the one-off statutory deduction ranging from 10% to 30%.  The applicable deduction percentable will be determined by the tax authorities at provincial levels or the tax authorities of the municipality directly under the central government.
  • Properties that are let out for rental income are taxed at 12% on the gross rent.