Real Property Gains Tax in Malaysia has been abolished effective April 1st 2007

Previously the tax rates on real property gains were: 

•         Disposal within 2 years      30%
•         Disposal in the 3rd year     20%
•         Disposal in the 4th year     15%
•         Disposal in the 5th year     5%

The text of the order is given below: 

REAL PROPERTY GAINS TAX ACT 1976
Real Property Gains Tax (Exemption) (No.2) Order 2007
       
In exercise of the powers conferred by subsection 9(3) of the Real Property Gains Tax Act 1976 [Act 169], the Minister make the following order:Citation and commencement1.

1. This order may be cited as Real Property Gains Tax (Exemption) (No.2) Order 2007
2. This Order comes into operation on 1 April 2007

Exemption

3. The Minister exempts any person for all provisions of the Act in respect of any disposal of chargeable assets after 31 March 2007

Made 27 March 2007