Capital gains tax took effect on Jan 1.
KUALA LUMPUR: Taxpayers can now refer to the Capital Gains Tax Return Filing (CGTRF) Programme on the Inland Revenue Board’s (IRB) official online portal on reporting CGTRF starting March 1.
IRB said in a statement, starting Jan 1, companies, limited liability partnerships, trusts and cooperatives that receive profits or gains from the disposal of capital assets are subject to the capital gains tax (CGT) under the Income Tax Act 1967 (ITA 1967).
This includes shares of an unlisted company incorporated in Malaysia or shares of a controlled company incorporated outside Malaysia that owns immovable property situated in Malaysia or shares of another controlled company or both, according to Section 15C of ITA 1967.
For more information, members of the public can contact the IRB by calling the Hasil Contact Centre at 03-8911 1000 / 603-8911 1100 (overseas); HASiL Live Chat; and the feedback form at IRB’s official portal, https://maklumbalaspelanggan.hasil.gov.my/Public/. — Bernama
