Thursday, 12 Dec 2019 05:35 PM MYT
KUALA LUMPUR, Dec 12 — The implementation of the parcel tax system beginning January 1 in Kuala Lumpur, will see homeowners, especially those from the B40 group, enjoying a yearly flat rate of RM15 and RM20 for leasehold and freehold properties respectively. On average, residential types of apartments with an overall size of 96 square metres which belong to owners from the M40 group, are subject to a minimum yearly parcel tax of RM20 and RM25 for leasehold and freehold properties respectively.
He explained that the new tax system is also seen as a mechanism to rectify and rationalise taxation on strata properties so that it is more systematic, transparent and equitable for owners.
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