KUALA LUMPUR: The Minority Shareholder Watchdog Group (MSWG) hopes the capital gains tax (CGT) will not be introduced in the near term as it will further dampen the performance of Bursa Malaysia, said Chief Executive Officer Devanesan Evanson. He also stressed that the introduction of the tax on capital gains would be counter productive as the government had plans to reduce shares owned by government-linked investment companies (GLICs). Asked on the suitable time for the capital gains tax introduction, Devanesan said the government could revisit the idea later after the local market had stabilised. The government has previously hinted that new taxes would be introduced, which saw the market speculating on three potential taxes, namely capital gains tax, inheritance tax and tax on the digital economy. She added that this campaign was in line with the Global Ethics Day and advocating the practice of good ethics, as the theme for this year's Global Ethics Day is “Doing the Right Thing”.

Source: thestar October 17, 2018 06:32 UTC