Ngeh: End property gains tax to help spur economy

Ngeh: End property gains tax to help spur economy - Hello loyal readers FeedGoogle, In the article you are reading this time with the title Ngeh: End property gains tax to help spur economy, We have prepared this article well for you to read and take information in it. hopefully the contents of the post Article Malaysians, what we write you can understand. Alright, happy reading.

Beruas MP Ngeh Koo Ham has called on the Perikatan Nasional government to suspend or abolish the real property gains tax under the Real Property Gains Tax Act 1976 to help spur the economy.In doing so, he argued that the Real Property Gains Tax Act 1976, introduced to limit property speculation in order to avoid spiralling prices and a potential property bubble, was not intended to be a revenue-generator."Our nation’s economy is currently experiencing an economic recession. It is time to suspend or abolish real property gains tax (RPGT) under the Real Property Gains Tax Act 1976. We have done it twice before to overcome the economic situation then," said Ngeh in a statement today.Transactions normally subjected to RPGT were exempted for a year in 2003/04 as part of a stimulus package then to revive the economy and the RPGT was again suspended from April 2007 until De…