Transaction tax on properties will send industry into tailspin, association says

Raevathi Supramaniam

Introducing a 2% tax on property deals could send the industry into a tailspin, according to Real Estate and Housing Developers’ Association president Heng Choon Soam. – The Malaysian Insight file pic, October 22, 2021.

INTRODUCING a new transaction tax on property buyers and sellers to help the government refill its Covid-19 ravaged coffers might not be the best move, Real Estate and Housing Developers’ Association president Soam Heng Choon said.

Heng was commenting on suggestions that the government should impose a 2% transaction tax on property deals, split equally between buyer and seller.

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  • What are you doing about the rampant corruption in the country? There is no point taxing the people when corruption is not plugged. Its like pouring water into a bucket w holes and expect it to fill up

    Posted 1 month ago by Elyse Gim