Tuesday, November 24, 2009

On Real Property Gains Tax and GST


I had the opportunity to speak in Parliament last Thursday during the committee stage debate on the Ministry of Finance. During the first part of my speech above, I spoke on the Government's intention under the 2010 budget announced by the Prime Minister to impose a new flat 5% tax on all gains derived from the sale of property in Malaysia (it has been tax free for the past few years at least). I also raised the issue of the impending implementation of a Goods and Services Tax (GST) which was also highlighted in the Budget although no definite time-frame has been mentioned.

The Hansard text, if you prefer reading the speech rather than listening to it, is available here from page 48 to 51. I'll blog on the 2nd part of my speech and the Ministerial reply to my queries soon.
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