KUALA LUMPUR (Bernama): The government has agreed to exempt the real property gains tax (RPGT) to individual Malaysian citizens who dispose of their properties at a consideration price of RM200,000 and below. According to a statement by Finance Minister Lim Guan Eng, the RPGT exemption, effective from Jan 1, 2019, were for the disposal of properties including low-cost houses, low-medium cost houses and affordable houses from the sixth year onwards. Additionally, Lim said the government would also exempt the service tax for persons registered for Service Tax in Group G (Professional Group) who provide the same service to registered persons beginning Jan 1, 2019. The exemption announced in Budget 2019 was aimed at avoiding the increase in cost due to double taxation and maintain the competitiveness of the local service industry. An example of a situation where a person gets the service tax exemption is as follows: an advocate and solicitor who provides legal services to other advocates and solicitors will be exempted from service tax.

Source: The Star December 30, 2018 14:48 UTC