PETALING JAYA: The much-speculated taxes on capital gains and inheritance will not be introduced in Budget 2019. Sources said both capital gains tax (CGT) and inheritance tax may only be introduced over the next few years if found feasible..With only less than three weeks before the national budget is unveiled, the source also said that the additional tax measures to be announced would likely focus on the digital economy and tax incentives. On the potential digital tax to be introduced by the government, the source said it would not be an entirely new tax. The source said that the Tax Reform Committee is also currently reviewing all the existing tax incentives in Malaysia. “Certain types of tax incentives that are no longer needed or are no longer effective should be abolished.

Source: thestar October 14, 2018 22:41 UTC