CME outlines reasons against vacancy tax

Carmelo Ferlito, who heads CME, said there should be discussions on how to resolve the problem of unsold units instead of a vacancy tax.

KUALA LUMPUR: The Centre for Market Education (CME) has issued a four-point statement to oppose the government’s proposed property vacancy tax to be paid by developers on unsold units priced above RM500,000.

It said there should be discussions on how to resolve unsold units so that parties involved could come up with proposals to benefit the housing market and the Malaysian economy, said Carmelo Ferlito, who heads CME.