Finance Ministry Reviews Extending Capital Gains Tax Exemptions to Non-Listed Companies
3/21/20241 min read
The Ministry of Finance is reviewing a proposal to extend Capital Gains Tax (CGT) exemptions to companies not listed on Bursa Malaysia. Currently, CGT exemptions apply to four categories: the disposal of unlisted shares in IPOs, internal restructuring within the same group, venture capital companies, and unit trusts. Deputy Finance Minister Lim Hui Ying noted this in response to a query from Ahmad Fadhli Shaari (PN-Pasir Mas). With CGT implementation starting March 1, 2024, the government expects an additional RM800 million in annual revenue. Exemptions for unit trusts and profits from foreign capital asset disposals remitted to Malaysia will apply from January 1, 2024, to December 31, 2028.
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