RISM

Government Widens GST Exempt Supply To All Stratified Residential Properties

PETALING JAYA – The government has agreed to extend the Goods and Services Tax (GST) exemption list from low-and medium-cost properties to stratified residential properties, say property-related professional bodies. The bodies are the National House Buyers Association (HBA); Royal Institution of Surveyors Malaysia (RISM); Association of Valuers, Property Managers, Estate Agents and Property Consultants in the Private Sector of Malaysia (PEPS); and Malaysian Institute of Professional Property Managers Malaysia (MIPPM). HBA Secretary General Chang Kim Loong, their spokesperson, said following their petition dated Nov 28, 2014 to the Ministry of Finance (MOF), the latter gave a positive response in a letter dated Jan 5, 2015. The petition had requested for a change in classification from the ...Read More