Income from overseas unit trusts exempted from CGT, taxes

The government has agreed to exempt the imposition of capital gains tax (CGT) as well as taxes on foreign-sourced income (FSI) on unit trusts, said Finance Minister II Amir Hamzah Azizan.

He said the exemption on CGT is effective from Jan 1, 2024 until Dec 31, 2028 while the exemption on FSI takes effect from Jan 1, 2024 until Dec 31, 2026.