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PR Newswire
28-08-2013, 03:09 PM
Cooling measure in M'sia as well...
Malaysia mulls hike in property gains tax to cool market
KUALA LUMPUR - Malaysia’s government is exploring the possibility of hiking the real property gains tax (RGPT) to rein in rising housing prices and curb speculation in the market, state news agency Bernama reported on Tuesday.
Bernama quoted Housing Minister Abdul Rahman Dahlan as saying current property tax levels had failed to stabilise house prices with the house price index continuing to rise.
“As far as I’m concerned, we’re studying the possibility and if it can cool down the market, it would be on the table,” Mr Abdul Rahman was quoted as saying.
The minister declined to confirm to Bernama if the tax proposal would be included in the 2014 budget which will be unveiled in October.
Malaysia last raised the RGPT in 2012 to 15 per cent from 10 per cent for properties sold within two years of purchase.
It also raised RGTP to 10 per cent from 5 per cent for those sold between two and five years, which analysts had called “too feeble” to cool a jump in housing prices.
http://www.todayonline.com/business/mala...ool-market
Malaysia mulls hike in property gains tax to cool market
KUALA LUMPUR - Malaysia’s government is exploring the possibility of hiking the real property gains tax (RGPT) to rein in rising housing prices and curb speculation in the market, state news agency Bernama reported on Tuesday.
Bernama quoted Housing Minister Abdul Rahman Dahlan as saying current property tax levels had failed to stabilise house prices with the house price index continuing to rise.
“As far as I’m concerned, we’re studying the possibility and if it can cool down the market, it would be on the table,” Mr Abdul Rahman was quoted as saying.
The minister declined to confirm to Bernama if the tax proposal would be included in the 2014 budget which will be unveiled in October.
Malaysia last raised the RGPT in 2012 to 15 per cent from 10 per cent for properties sold within two years of purchase.
It also raised RGTP to 10 per cent from 5 per cent for those sold between two and five years, which analysts had called “too feeble” to cool a jump in housing prices.
http://www.todayonline.com/business/mala...ool-market
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