Increased Tax Retention for Foreign Sellers

Increased Tax Retention for Foreign Sellers

Share this article:With effect from 1 January 2018, section 21B of the Real Property Gains Tax Act 1976 has been amended in respect of ‘foreign sellers’. A ‘foreign seller’ is an individual who neither (i) a Malaysian citizen nor (ii) a permanent resident of Malaysia....
Budget 2018: Tax Exemption for Rental Income

Budget 2018: Tax Exemption for Rental Income

Share this article:As an initiative to increase home-ownership for the nation, the Prime Minister, in the Budget 2018, has allocated RM2.2 billion to the housing development in Malaysia. What comes as a surprise to many is the 50% tax exemption on rental income...

Stricter Requirements for Property Buyers

Share this article:The Stamp (Amendment) Bill 2016 was tabled for first reading in parliament on Nov 23 last year. Among other things, it proposes that ad valorem duty must be paid before the sales and purchase agreement (SPA) is signed. Under the current Act, the...