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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).

Content provided by Picture: HKTDC Research
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