Malaysia legislation
Section 30
Section 30
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, by substituting for subsection (1a) the following subsection:
“(1a) For the purposes of subsection (1), where the disposer in a disposal referred to in that subsection is—
(a)
a disposer under Part II of Schedule 5, the acquirer shall, in relation to disposal within a period of three years after the acquisition date of the chargeable asset, retain the whole of that money or a sum
Act 833
not exceeding five per cent of the total value of the consideration, whichever is the less, and whether or not that amount is so retained, the acquirer shall within a period of sixty days after the date of such disposal pay that amount to the Director General;
or
(b)
a disposer under Part III of Schedule 5, 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, the acquirer shall within sixty days after the date of such disposal pay that amount to the Director General.”.
Amendment of section 32