Govt eyes RM800m annual revenue with capital gains tax

The government is expected to collect about RM800 million in annual revenue from the implementation of the capital gains tax (CGT) effective March 1, 2024, based on share ownership transfer trends in recent years, said the Finance Ministry.

In a written reply in the Dewan Rakyat on Tuesday, the ministry said the CGT, to be imposed at a rate of 10 percent on net gains, will only be applicable to the disposal of unlisted shares of companies, limited liability partnerships, cooperatives and trusts, whether local or foreign entities that are shareholders in a company.