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.

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Source: fmtoday - 🏆 5. / 72 Read more »