Exemption of unit trust CGT and taxes on FSI deemed to boost capital market performance

Chang: "It makes sense to exempt unit trusts because if you and I (individuals) invested directly in Malaysian companies or in foreign investments, we are not taxed when we make capital gains or we bring back the money from overseas."

KUALA LUMPUR: The exemption of capital gains tax (CGT) is needed to boost capital market performance and also to benefit over 90 per cent of investments in the unit trust industry that are made by individual investors.

PwC Malaysia tax partner Jennifer Chang said the exemption would encourage more unit trusts to be set up in the capital market