News about tax

KUALA LUMPUR (Oct 29): Tun Dr Mahathir Mohamad today offered a sarcastic apology on his blog, as he "confessed" that he was party to the creation of the solution to help the country overcome the problems wrought by the 1997-98 Asian Financial Crisis, which he admitted benefitted a few tycoons.

KUALA LUMPUR (Oct 15): The sales and services tax (SST) coverage could be widened on the condition that it does not end up raising the cost of living and becoming a burden to Malaysians, according to the Ministry of Finance.

KUALA LUMPUR (Oct 11):  The government will introduce a new tax band for those earning over RM2 million a year, which will see them taxed 30% — two percentage points more than the 28% currently applied to those earning over RM1 million.

PETALING JAYA (Oct 11): The government will revise the real property gains tax (RPGT) imposed on the disposal of properties after a five-year period, by individual citizens and permanent residents.

KUALA LUMPUR (Oct 10): Putrajaya does not plan to get rid of the Real Property Gains Tax (RPGT) for the time being “as it has not reached the one-year implementation period”, the Finance Ministry said, The Star reported today.

KUALA LUMPUR (Oct 8): Prime Minister Tun Dr Mahathir Mohamad said today the government will continue to improve Malaysia's Sales and Services Tax (SST) instead of reviving the Goods and Services Tax (GST), because it is not appropriate for the country to change its tax system too frequently.

KUALA LUMPUR (Oct 7): With talk of a revival of the Goods and Services Tax (GST) recently, ex-Deputy Minister of International Trade and Industry Datuk Seri Ahmad Maslan (pictured) has offered himself as a consultant, free of charge.

It seems a large number of property owners have been disturbed by the current Real Property Gains Tax (RPGT) and they are hoping to see it reduced or removed, according to a poll conducted by EdgeProp.

PETALING JAYA (Oct 4): The Association of Valuers, Property Managers, Estate Agents and  Property Consultants in the Private Sector Malaysia (PEPS) is urging the government to review the current Real Estate Property Gains Tax (RPGT) so it can have a positive impact in stimulating  the country’s  housing market.

KUALA LUMPUR (Oct 4): The prime minister’s statement yesterday that the government will study if there is a need to reintroduce the scrapped goods and services tax (GST) — the removal of which was one of Pakatan Harapan’s key pledges in the 14th general election (GE14) — is unlikely to gain traction among the rakyat.