Malaysian Budget for 2024 Delivered Including Capital Gains Tax on Unlisted Shares, Several Incentive Measures, and Increased Service Tax
Malaysia's Budget for 2024 was delivered on 13 October 2023. Some of the main measures as explained in the tax measures document include:
- The implementation of Capital Gains Tax (CGT) on the disposal of unlisted shares for companies as follows from 1 March 2024, depending on the share acquisition date, with an exemption for shares disposed of in relation to an approved IPO or a restructuring…