Blog Archives

Goods and Services Tax (GST)

Goods and Services Tax (GST) is a consumption tax based on the value-added concept to be implemented on 1 April 2015 with a standard rate of 6% to replace the existing sales and service tax. However, supplies of some goods

Posted in Taxation

Assessment Rates

Comparison of Assessment Rates in City Councils Kuala Lumpur City Council (DBKL) Type Rates (%)within 36 miles sq radius Commercial 10 Service Apartment 7 Residential 4 Low Cost Flats 2 Vacant Land for Commercial 7 Vacant Land for Residential 5

Posted in Taxation

Corporate Tax for Property Developer

Some Guidelines and Public Rulings on the tax treatment which are relevant to the property and construction industry as follows: Guideline on Tax Treatment for Maintenance Charges and Management for Common Property Received by Developers, Joint Management Body (JMB) and

Posted in Taxation

Real Property Gains Tax (RPGT)

Under the recent Budget 2014 announcement, the Malaysian Government has proposed a significant increase to the current Real Property Gains Tax (RPGT) rates to further curb speculative activities in the local real property market. With effect from 1 January 2014,

Posted in Taxation

Stamp Duty

When purchasing a property, stamp duty must be paid on the Memorandum of Transfer. Stamp duty is based on the purchase price: For the first RM 100,000, stamp duty is one percent For the next RM 400,000, stamp duty is

Posted in Taxation