Weekly Industry News

Perpetual 5percent RPGT: A tax on inflation

Weekly Industry News

When Finance Minister Lim Guan Eng announced the perpetual 5%Real Property Gains Tax (RPGT)for Malaysians and 10% for foreigners and companies, it caused reverberations across the industry. However, low-cost, low medium-cost and affordable housing priced below RM200,000and sold after the fifth year of ownership are exempted.

The National House BuyersAssociation (HBA) acknowledge the challenges faced by the new government in tabling its maiden Budget 2019 in view of the slowdown in the global and regional economies as well as the steep drop in the value of the ringgit and the country’s financial health after taking over the federal government following the resounding
victory in GE14.

Media Title: Focus Malaysia

Date: 29 Jun 2019

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