The Subang MP says the proposed capital gains tax on the shares of unlisted companies may be inefficient and cause disputes.
Wong Chen said the capital gains tax would not hinder the performance of Bursa Malaysia as claimed by some financial experts.
Currently, Malaysia imposes RPGT on gains arising from the sale of real estate or property, at a starting rate of 30%. “Allow me to reverse the question: why, at the present time when we do not have any capital gains tax, has Bursa not experienced rapid growth?” he asked.
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