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Friday October 11, 2013 MYT 12:00:00 AM
Friday October 11, 2013 MYT 8:33:19 AM
As we all know that the Wisma MCA is now aged more than 30 years, hence the transfer of the building will not be subject to tax. — Datuk Seri Tan Chai Ho
PETALING JAYA: MCA has rubbished allegations that the transfer of party assets from Wisma MCA Sdn Bhd to Huaren Resources Sdn Bhd was subject to a 5% Real Property Gains Tax (RPGT).
MCA treasurer-general Datuk Seri Tan Chai Ho said that it was regrettable that some grassroots leaders of MCA have used the media to inflict damage on the party for their personal gain by spreading untrue and baseless accusations on party asset management.
“The Finance Minister had on Dec 31, 2009 exempted the RPGT under the RPGT Act 1976, on the disposal of real properties that are acquired for more than five years.
“As we all know that the Wisma MCA is now aged more than 30 years, hence the transfer of the building will not be subject to tax,” he said in a statement yesterday.
He was responding to the allegation made by Wangsa Maju division chairman and MCA Safeguard Party Assets Committee chairman Datuk Yew Teong Lock that the transfer had not been exempted from the RPGT of RM5mil due to the paper gain of RM96.6mil from the disposal of the building.
He also took a swipe at Yew for being irresponsible by making claims that the matter was not discussed in the central committee (CC) meeting.
“Yew is not fit and qualified to call himself the chairman of the MCA Safeguard Party Assets Committee with his ignorance of the RPGT law as he has politicised every issue to gain political mileage for his political masters at the expense of the party’s image.
“The CC meeting on Dec 13, 2010 had discussed the matter and it was also recorded in the meeting’s minute.
“Leaders who attended the meeting included party president Datuk Seri Dr Chua Soi Lek, deputy president Datuk Seri Liow Tiong Lai, vice-president Datuk Seri Chor Chee Heung, Youth chief Datuk Dr Wee Ka Siong, Wanita chief Datuk Yu Chok Tow and many more,” he said.
Tan explained that the sale of the Wisma MCA building was part of the tax restructuring exercise where the building was transferred from Wisma MCA Sdn Bhd to Huaren Resources Sdn Bhd, a trustee and nominee of MCA.
“Since the owner of Wisma MCA Sdn Bhd and Huaren Resources Sdn Bhd is MCA, thus there is no actual gain for MCA from the transaction and the Wisma MCA still belongs to MCA,” he said.
Tan said the party would not hesitate to file a legal suit against Chinese daily Nanyang Siang Pau for publishing a misleading news article on the sale of Wisma MCA by quoting an anonymous source on Oct 9.
“We view that the intention of the news report was malicious as the daily had not attempted to seek clarification with the relevant parties before publishing a story fed by an anonymous source.
“As a responsible newspaper, news should be reported in a balance and impartial manner,” he said.
Tags / Keywords:
Politics, MCA, Wisma MCA, Huaren Resources Sdn Bhd
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