MCA has proposed that the government stop imposing the real property gains tax on assets disposed after 10 years of acquisition.
Previously, Malaysians were not charged any RPGT if they sold their properties after five full years of ownership. Under the current tiered tax system, the RPGT on properties acquired and sold within three years is 30%, four years and five years . Lim, when announcing the RPGT exemption, said it was for the disposal of properties, including low-cost houses, low-medium cost houses and affordable houses, from the sixth year onwards.
Agreed.
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