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“Capital gains tax for stock gain will make Malaysia less competitive”

Business & Finance

ANY decision to impose a capital gains tax on the trading of shares by retail and institutional investors in Bursa Malaysia will be detrimental for the Malaysian equity market.

Such move will inevitably make Malaysia less competitive while triggering further outflow of foreign funds, according to CGS-CIMB Research.

“We gather that Indonesia, Singapore and Thailand currently do not impose capital gains taxes on the trading of shares on their stock exchanges,” observed head of research Ivy Ng Lee Fang.

“There is also the possibility of a capital gains tax being introduced in Malaysia but exemption will be given for the gain from sale of shares listed on the stock exchange as practiced by other countries to stay competitive.”

Deputy Finance Minister II Yamani Hafez Musa told the Parliament yesterday (Sept 22) that Putrajaya is studying the feas

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