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 inĀ the global and regional economiesĀ as well as the steep dropĀ in the value of the ringgit andĀ the country’s financial health afterĀ taking over the federal government followingĀ the resounding
victory in GE14.

Media Title: Focus Malaysia

Date: 29 Jun 2019

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