Malaysia legislation
Section 16
Section 16
Amendment of section 21b
The Real Property Gains Tax Act 1976, which is referred to as the “principal Act” in this Chapter, is amended in section 21b—
(a)
in subsection (1), by substituting for the word “Where”
the words “Subject to subsection (1a), where”;
(b)
by inserting after subsection (1) the following subsection:
“(1a) For the purpose of subsection (1), where the disposer in a disposal referred to in that subsection is not a citizen and not a permanent resident, the acquirer shall retain the whole of that money or a sum not exceeding seven per cent of the total value of the consideration whichever is the less, and (whether or not that amount is so retained) he shall within sixty days after the date of such disposal pay that amount to the Director General.”.
Amendment of Schedule 2