Government Projects Additional Revenue of RM800 Million Through Capital Gains Tax on Shares
3/21/20241 min read
The government projects an additional RM800 million in revenue through the newly implemented Capital Gains Tax (CGT). Deputy Finance Minister Lim Hui Ying announced exemptions for unit trusts from CGT until December 31, 2028, following industry discussions. This exemption also applies to gains from foreign capital asset disposals by unit trusts remitted to Malaysia. Although this will reduce projected revenue, it aims to boost the capital market's performance and benefit over 90% of individual investors, particularly those nearing or in early retirement, ensuring unit trusts remain attractive and accessible.
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