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Paper eres2010_340:
THE IMPACT OF REAL PROPERTY GAINS TAX (RPGT) EXEMPTION IN REAL ESTATE SECONDARY MARKET – A MALAYSIAN CASE STUDY

id eres2010_340
authors Khuzaimah, Abdullah
year 2010
title THE IMPACT OF REAL PROPERTY GAINS TAX (RPGT) EXEMPTION IN REAL ESTATE SECONDARY MARKET – A MALAYSIAN CASE STUDY
source 17th Annual European Real Estate Society Conference in Milan, Italy
summary The first legislation to tax gains from the disposal of real estate was by the enactment of Land Speculation Tax Act 1974 which came into force on December 6, 1973. It was later replaced by Real Property Gains Tax Act 1976 from November 7, 1975. The Act was introduced to curb speculative activities in properties as such activities were rampant and has triggered artificial market demand in the real estate. Since its inception, the RPGT rate has been exempted twice and revised seven times. In March 2007, Prime Minister announced the exemption of RPGT with effect from April 1, 2007. The exemption was intended to “inject more excitement and dynamism into both the property and the financial sectors” in boosting the economic activities. The RPGT exemption however was restored in January 1, 2010. This paper examines the impact of RPGT exemption from April 1, 2007 – December 31, 2009 and reports on the real estate market condition during the exemption period. This study uses transaction data from National Property Information Centre (NAPIC) for the period of 2002 – 2009.
keywords real estate market, property gains, tax exemption
series ERES:conference
email khuzaimah@inspen.gov.my
more http://www.eres2010.org/index.asp?page=papers_download
content file.ppt (3,769,856 bytes)
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ratings
session Macroeconomic Perspectives on the Real Estate Market (2)
last changed 2010/08/04 20:47
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