Real Property Gains Tax Act 1976 (Act 169)

1 real Property Gains Tax Act 1976 (Act 169)Subsidiary legislationReal Property Gains Tax (Exemption) Order 2001(Exemption for Gains on disposal to a special purpose vehicle) real Property Gains Tax (Exemption) (No 4) Order 2002(Exemption for Gains in relation to Sukuk BNM) real Property Gains Tax (Exemption) (No 4) Order 2006(Exemption for Gains related to Sukuk) real Property Gains Tax (Exemption) Order 2011(Exemption in relation to Schedule 5 tax rates now expired) real Property Gains Tax (Exemption) Order 2012(Exemption in relation to Schedule 5 tax rates now expired) real Property Gains Tax (Exemption) (No 2) Order 2012(Exemption for ASEAN transnational fund) real Property Gains Tax (Exemption) Order 2013(Exemption for transfer to the trustee-manager of a business trust) real Property Gains Tax (Exemption) (No 2) Order 2013(Exemption for chargeable Gains in relation to Sukuk Kijang) real Property Gains Tax (Exemption) Order 2014(Exemption for chargeable Gains on conversion of a company or partnership to alimited liability partnership)1 real Property Gains Tax (Exemption) Order 2001 real Property Gains TAX(EXEMPTION) ORDER 2001PU (A) 227[Made 24 July 2001]IN exercise of the powers conferred by subsection 9(3) of the real Property Gains TaxAct 1976 [Act 169], the Minister makes the following order.

2 PARAGRAPH1 CITATION AND COMMENCEMENT1(1)This Order may be cited as the real Property Gains Tax (Exemption) Order (2)This Order shall be deemed to have come into operation on 1 January the purpose of this Order special purpose vehicle means any entity which issues assets-backed debt securitiesand which satisfies all criteria as stipulated by the Securities Commission on the offeringof assets-backed debt securities; securitization transaction means an arrangement which involves the transfer ofassets or risks to a third party where such transfer is funded by the issuance of debtsecurities to investor and approved by the Securities Commission pursuant to section 32of the Securities Commission Act 1993 [Act 498].PARAGRAPH3 EXEMPTION3(1)The Minister exempts any person from the payment of real Property Gains tax inrespect of chargeable Gains accruing on the disposal of any chargeable assets (a) to or in favour of a special purpose vehicle; or(b) in connection with the repurchase of the chargeable assets, to or in favour of theperson from whom those assets were acquired,for the purpose of (2)Nothing in subparagraph 3(1) shall absolve or be deemed to have absolved theperson from complying with any requirement to submit any return or to furnish any otherinformation under the provision of the real Property Gains Tax (Exemption) Order 2000 [PU (A) 58/2000] published inthe Gazette on 24 February 2000 and the real Property Gains Tax (Exemption) (No.)

3 6)Order 2000 [PU (A) 513/2000] published in the Gazette on 31 December 2000 arerevoked. Thornton s Malaysian Tax CommentariesPara 42 real Property Gains TaxREAL Property Gains TAX(EXEMPTION) (NO. 4) ORDER 2002PU (A) 270[26 June 2002]IN exercise of the powers conferred by subsection 9(3) of the real Property Gains TaxAct 1976 [Act 169], the Minister makes the following order:PARAGRAPH1 CITATION AND COMMENCEMENT1(1)This order may be cited as the real Property Gains Tax Act (Exemption) (No. 4)Order (2)This Order comes into operation on 2 July Minister exempts any person from the payment of real Property Gains tax inrespect of chargeable Gains accruing on the disposal of any chargeable assets in relationto the Sukuk Issue which has been issued by the Malaysia Global Sukuk Inc. Para 1(1)Commerce Clearing House (Malaysia) Sdn Bhd3 real Property Gains Tax (Exemption) (No.

4 4) Order 2006 real Property Gains TAX(EXEMPTION) (NO. 4) ORDER 2006PU (A) 54[3 February 2006]IN exercise of the powers conferred by subsection 9(3) of the real Property Gains TaxAct 1976 [Act 169], the Minister makes the following order:PARAGRAPH1 CITATION AND COMMENCEMENT1(1)This order may be cited as the real Property Gains Tax (Exemption) (No. 4) (2)This Order is deemed to have come into operation on 8 February this Order, Sukuk Bank Negara Malaysia-Ijarah means the Islamicsecurities issued or to be issued under the Syariah principle of Ijarah by BNM Minister exempts any person from the payment of real Property Gains tax inrespect of chargeable Gains accruing on the disposal of any chargeable asset in relation tothe Sukuk Bank Negara Malaysia-Ijarah issued or to be issued by BNM Sukuk s Malaysian Tax CommentariesPara 34 real Property Gains TaxREAL Property Gains TAX(EXEMPTION) ORDER 2011PU (A) 434 CCH Note: real Property Gains Tax (Exemption)Order 2011 (PU (A) 434/2011) revoked by RealProperty Gains Tax (Exemption) Order 2012 (PU (A)415/2012), para.

5 3, effective on 1 January 2013.[30 December 2011]IN exercise of the powers conferred by subsection 9(3) of the real Property Gains TaxAct 1976 [Act 169], the Minister makes the following order:PARAGRAPH1 CITATION AND COMMENCEMENT1(1)This order may be cited as the real Property Gains Tax (Exemption) (2)This Order comes into operation on 1 January (1)The Minister exempts any person from the application of Schedule 5 of the Act onthe payment of tax on the chargeable gain in respect of any disposal of a chargeable asseton or after 1 January 2012 on the condition that the amount of chargeable gain shall bedetermined in accordance with following formula:A CBwhere (a) disposal is made within two years after the date of acquisition of suchchargeable asset where Ais the amount of tax charged on the chargeable gain on the person atthe appropriate tax rate reduced by the amount of tax charged onsuch chargeable gain at the rate of ten per cent;Bis the amount of tax charged on such chargeable gain at theappropriate tax rate; andCis the amount of such chargeable gain ; or(b) disposal is made in the third year, fourth year or fifth year after the date ofacquisition of such chargeable asset where Ais the amount of tax charged on the chargeable gain on the person atthe appropriate tax rate reduced by the amount of tax charged onsuch chargeable gain at the rate of five per cent;Bis the amount of tax charged on such chargeable gain at theappropriate tax rate.

6 AndCis the amount of such chargeable 1(1)Commerce Clearing House (Malaysia) Sdn Bhd5 real Property Gains Tax (Exemption) Order 20112(2)Where the disposal of a chargeable asset is made in the sixth year after the date ofacquisition of such chargeable asset or any year thereafter, the Minister exempts anyperson from the application of Schedule 5 of the Act on the payment of tax on thechargeable gain in respect of the disposal of such chargeable asset on or after 1 (3)Nothing in this paragraph shall absolve or is deemed to have absolved the personexempted from complying with any requirement to submit any return or to furnish otherinformation under any provision of the real Property Gains Tax Act (Exemption) (No. 2) 2009 [ (A) 486/2009]published on 30 December 2009 is s Malaysian Tax CommentariesPara 36 real Property Gains TaxREAL Property Gains TAX(EXEMPTION) ORDER 2012PU (A) 415369/2013), para.

7 2, deemed to have come into operationCCH Note: on 1 January Property Gains Tax (Exemption) Order 2012 (PU(A) 415/2012) revoked by real Property Gains Tax(Exemption) (Revocation) Order 2013 (PU (A)[14 November 2012]IN exercise of the powers conferred by subsection 9(3) of the real Property Gains TaxAct 1976 [Act 169], the Minister makes the following order:PARAGRAPH1 CITATION AND COMMENCEMENT1(1)This order may be cited as the real Property Gains Tax (Exemption) (2)This Order comes into operation on 1 January (1)The Minister exempts any person from the application of Schedule 5 of the Act onthe payment of tax on the chargeable gain in respect of any disposal of a chargeable asseton or after 1 January 2013 on the condition that the amount of chargeable gain shall bedetermined in accordance with the following formula:A CBWhere (a) disposal is made within two years after the date of acquisition of suchchargeable asset where A is the amount of tax charged on the chargeable gain on the person atthe appropriate tax rate reduced by the amount of tax charged onsuch chargeable gain at the rate of fifteen per cent;B is the amount of tax charged on such chargeable gain at theappropriate tax rate; andC is the amount of such chargeable gain ; or(b) disposal is made in the third year, fourth year or fifth year after the date ofacquisition of such chargeable asset where A is the amount of tax charged on the chargeable gain on the person atthe appropriate tax rate reduced by the amount of tax charged onsuch chargeable gain at the rate of ten per cent.)

8 Para 1(1)Commerce Clearing House (Malaysia) Sdn Bhd7 real Property Gains Tax (Exemption) Order 2012B is the amount of tax charged on such chargeable gain at theappropriate tax rate; andC is the amount of such chargeable (2)Where the disposal of a chargeable asset is made in the sixth year after the date ofacquisition of such chargeable asset or any other year thereafter, the Minister exemptsany person from the application of Schedule 5 of the Act on the payment of tax on thechargeable gain in respect of the disposal of such chargeable asset on or after 1 (3)Nothing in this paragraph shall absolve or is deemed to have absolved the personexempted from complying with any requirement to submit any return or to furnish otherinformation under any provision of the real Property Gains Tax (Exemption) Order 2011 [ (A) 434/2011] publishedon 30 December 2011 is s Malaysian Tax CommentariesPara 38 real Property Gains TaxREAL Property Gains TAX(EXEMPTION) (NO.)

9 2) ORDER 2012PU (A) 448[17 December 2012]IN exercise of the powers conferred by subsection 9(3A) of the real Property Gains TaxAct 1976 [Act 169], the Minister makes the following order:PARAGRAPH1 CITATION AND COMMENCEMENT1(1)This order may be cited as the real Property Gains Tax (Exemption) (No. 2)Order (2)This Order is deemed to have come into operation on 24 April Minister exempts the ASEAN Infrastructure Fund Limited from all provisions ofthe Act in respect of any disposal of chargeable assets after 24 April 1(1)Commerce Clearing House (Malaysia) Sdn Bhd9 real Property Gains Tax (Exemption) Order 2013 real Property Gains TAX(EXEMPTION) ORDER 2013PU (A) 128[22 March 2013]IN exercise of the powers conferred by subsection 9(3) of the real Property Gains TaxAct 1976 [Act 169], the Minister makes the following order:PARAGRAPH1 CITATION AND COMMENCEMENT1(1)This order may be cited as the real Property Gains Tax (Exemption) Order (2)This Order is deemed to have come into operation on 1 January this Order business trust and trustee-manager have the same meaning assigned to them under the Capital Marketsand Services Act 2007 [Act 671].

10 PARAGRAPH3 EXEMPTION3(1)Subject to subparagraphs (2) and (3), the Minister exempts any person from thepayment of real Property Gains tax on the chargeable Gains accruing on the disposal ofany chargeable asset, including shares in a real Property company, to a trustee-manageron behalf of a business (2)The exemption referred to in subparagraph (1) shall apply to a person who makessuch disposal to a trustee-manager on behalf of a business trust which (a) has been registered with or recognized by the Securities Commission pursuant toDivision 3B of Part VI of the Capital Markets and Services Act 2007; and(b) has been approved or authorized by the Securities Commission pursuant to Division1A or Division 3A of Part VI of the Capital Markets and Services Act 2007,on or after 1 January 2013 but not later than 31 December (3)The exemption referred to in subparagraph (1) shall only apply to the disposal ofchargeable asset executed by any person to a trustee-manager on behalf of a businesstrust in relation to the initial offering of the business s Malaysian Tax CommentariesPara 3(3)10 real Property Gains TaxREAL Property Gains TAX(EXEMPTION) (NO.)