Finance Ministry: No plans to abolish RPGT

KUALA LUMPUR: The Government has no plans to abolish the Real Property Gains Tax at the moment as it has not reached the one-year implementation period, says the Finance Ministry.

The Ministry said that RPGT is not imposed on citizens and those with permanent resident status who have disposed their properties once in their lifetime. The Ministry also explained that the RGPT is different from the Inheritance Tax as the former is not imposed on inheritance from the deceased to the administrator of the inheritance."Any transfer of assets either as gifts or due to deaths will not be charged the Inheritance Tax," said the Ministry.

Apart from direct debts, Lim said the Government had to bear the guarantees issued by government-linked companies involved in public transportation and utilities projects.

United States United States Latest News, United States United States Headlines

Similar News:You can also read news stories similar to this one that we have collected from other news sources.

Concerns surround extent of finance ministry’s powersMalay voters perceive ministry as wielding too much power. FMTNews Hahahaha, the previous one had got 2 portfolios but the same ppl didn’t complained? Their opinions are skewed because previous finance minister post held by PMs themselves. It’s a known fact that Ministry of Economic Affairs portolio is more powerful than Finance Ministry And the former is head by a Malay Calm ur tits, my fellow Malays
Source: fmtoday - 🏆 5. / 72 Read more »