Dr Wee: Govt should abolish RPGT on property disposed of after five years

KUALA LUMPUR: The government should abolish the real property gains tax (RPGT) imposed on properties disposed after a five-year period, says MCA president Datuk Seri Dr Wee Ka Siong.

"If the RPGT is imposed within a five-year period to curb speculative activities and transactions, I have no issue with this. But if it is imposed after five years, then it is not reasonable," he told reporters at the Parliament lobby on Monday (Nov 4).