Malaysia: 2022 Real Estate Gains Tax “RPGT” Updates
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In accordance with the 2021 finance law of December 31, 2021, the RPGT will no longer be taxed on real estate sales by private owners from the 6th year, from January 1, 2022.
Amount withheld by the acquirer in connection with the disposal of a taxable asset
With the removal of the RPGT for the sale of properties owned from the 6th year, we believe that owners will be motivated to move to the home of their choice without any tax penalty. This is a long overdue measure as many see it as an unfair way to penalize long-term owners on inflation and therefore this abolition is very much welcomed by all.
The content of this article is intended to provide a general guide on the subject. Specialist advice should be sought regarding your particular situation.
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