Commencement of amendments to the Real Property Gains Tax Act 1976
s 22
(1) Sections 23 and 26 come into operation on the coming into operation of this Act. (2) Sections 24 and 25 are deemed to have come into operation on 12 October 2019.
Finance Act 2019 Chapter III — AMENDMENTS TO THE REAL PROPERTY GAINS TAX ACT 1976
Amendment of section 21b
s 23
The Real Property Gains Tax Act 1976, which is referred to as the “principal Act” in this Chapter, is amended in subsection 21b(1a) by substituting for the words “not a citizen and not a permanent resident” the words “not a citizen, not a permanent resident or not a company incorporated in Malaysia”.
Amendment of Schedule 2
s 24
Schedule 2 to the principal Act is amended by substituting for paragraph 2a the following paragraph: “2a. (1) For the purposes of this Schedule, where a disposal of chargeable assets is subject to tax under Part I of Schedule 5, references to 1 January 1970 shall be construed as references to 1 January 2013. (2) Subparagraph (1) shall not apply to the disposal of chargeable assets under paragraphs 34 and 34a.”.
Amendment of Schedule 3
s 25
S c h e d u l e 3 t o t h e p r i n c i p a l A c t i s a m e n d e d i n subparagraph 13(2) by substituting for the words “1 January 2000” wherever appearing the words “1 January 2013”.
Amendment of Schedule 5
s 26
Schedule 5 to the principal Act is amended— (a) in Part II, by inserting after the word “company” the words “incorporated in Malaysia or a trustee of a trust”; and (b) in Part III, by inserting after the words “or an executor of the estate of a deceased person who is not a citizen and not a permanent resident” the words “, or a company not incorporated in Malaysia”.
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Source: Laws of Malaysia, Attorney General's Chambers of Malaysia (lom.agc.gov.my). Not a copy of the Gazette printed by the Government Printer (Interpretation Acts 1948 and 1967, s 61).
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