Ministry clarifies Real Property Gains Tax
Ministry of Finance clarified that the Real Property Gain Tax (RPGT), effective from 1 January 2010, is fixed at 5%, irrespective of the property disposal year and will be implemented through the Real Property Gain Tax (Exemption) Order 2009.
Based on the Finance Bill 2009, the RPGT for property disposal within 2 years is taxed at 30%, within 3 years is 20%, within 4 years is 15% & after 5 years is 5%.
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