Article type: metered User Type: anonymous web User Status: Campaign ID: 7 Cxense type: free User access status: 3KUALA LUMPUR: The government should abolish the real property gains tax (RPGT) imposed on properties disposed after a five-year period, says MCA president Datuk Seri Dr Wee Ka Siong. "If the RPGT is imposed within a five-year period to curb speculative activities and transactions, I have no issue with this. Under the previous administration, Dr Wee noted the RPGT was imposed only on properties that were disposed of within a five-year period to curb speculation. He also said abolishing the RPGT on property disposed after five years would help stimulate the property sector. As of October this year, he said the government had collected RM81.5mil in RPGT imposed on properties disposed after the five-year period involving 8,554 transactions.

Source: The Star November 04, 2019 12:22 UTC