Govt to waive RPGT from April 1
By Jimmy Yeow
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The Prime Minister said the government has decided to waive real property gains tax throughout the country commencing April 1 to further improve the national property sector.

"This is long-awaited news for developers and investors alike and I hope that it will inject more excitement and dynamism into both the property and financial sectors," Datuk Seri Abdullah Ahmad Badawi said at the Invest Malaysia 2007 conference on March 22.

He said the relaxation of the Foreign Investment Committee (FIC) rules to enable foreigners to purchase residential properties above RM250,000 without FIC approval, was received very positively.

“Based on feedback received, the state governments were also told to provide the same relaxation for the purchase of residential property," he said.