15 Nov 2018
MALAYSIA: Property Gains Tax Hiked to 10% for Corporate and Overseas Owners
As of 1 January next year, the 5% Real Property Gains Tax currently payable on assets held for five years or more will be raised to 10% for all companies and overseas nationals. For the first time, Malaysian nationals and permanent residents will also be obliged to pay the levy, albeit at a reduced rate of 5%.
The changes were announced as part of the 2019 Budget, which also included a proposal to cut corporate income tax from 18% to 17% for all SMEs with paid-up capital of less than RM2.5 million (US$598,000).