| In the Budget 2010, Government has re-imposed the Real Property Gains Tax (RPGT). The RPGT will be fixed at 5% on the gains from the disposal of real property with effective from 1 January 2010. The RPGT for the first year is 5% and it’s same for second, third, fourth and fifth year.
Real Property Gains are gains derived from disposal, sell, convey, assign, transfer, settle or alienate whether by agreement or by force of law which fall under chargeable asset. All chargeable assets must be made during the year of assessment and all particulars must be furnished as requested.
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