Navigating Malaysia's New Capital Gains Tax Landscape: Insights and Urgent Clarifications
1/22/20241 min read
Malaysia's new Capital Gains Tax (CGT) launched on January 1, 2024, with ongoing legislative updates. Finance Minister II's recent exemptions for unit trusts aim to spur investment. However, challenges include electronic filing uncertainties, market value scrutiny, and capturing tax revenue for foreign transactions. Urgent clarifications are needed before the domestic CGT starts in March 2024. It remains unclear if CGT replaces Real Property Gains Tax (RPGT) for companies holding real estate. Navigating these complexities is crucial in understanding Malaysia's evolving tax landscape.
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