KUALA LUMPUR: In addressing investors’ concerns, Malaysian Prime Minister Anwar Ibrahim said that the proposed capital gains tax on unlisted shares announced during the recent tabling of the bud
announced during the recent tabling of the budget will only be finalised after engagement with the stakeholders.
The proposal received mixed reviews, with sceptics saying that the tax was not the right move as the country was struggling to attract investments. The policy, launched in October of last year, is to ensure that Malaysia becomes a preferred investment destination in Southeast Asia.COMMITMENT TO SUPPORT HIGH VALUE-ADD LOCAL STARTUPS
He added that a tax deduction will be provided on listing costs for companies listing on the ACE and LEAP markets as well as technology stocks onto the main board. “We certainly want to ensure that successful startups will have access to later stage financing here in Malaysia, so that they do not need to seek listing abroad,” he said.
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