New RPGT rates will dampen sales

PETALING JAYA (Dec 31):  Malaysia’s revised Real Property Gains Tax (RPGT) rates that take effect from Jan 1, 2019, will dampen market sentiment and sales in the near term, according to industry players.

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'Avoid new taxes and maintain RPGT rate in Budget 2019'

PETALING JAYA: The government should not implement new taxes on the real estate industry, especially counter-productive ones such as a vacancy tax, said the immediate past president of the Association of Valuers, Property Managers, Estate Agents and Property Consultants in the Private Sector Malaysia (PEPS) Foo Gee Jen.

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