By Sharen Kaur - Published in NST Property, October 29, 2021 
sharen@nst.com.my
Berjaya Corp Bhd group chief executive officer Jalil Rasheed, has welcomed the government's decision to waive real property gains tax (RPGT) for properties sold from the sixth year onwards.
Finance Minister Tengku Zafrul Tengku Abdul Aziz announced today that the government will no longer impose the RPGT on property sales by individual citizens, permanent residents, and companies after the sixth year.
This will take effect next year as part of Budget 2022, he said.
Commenting on Budget 2022, Jalil said it is good that RPGT has been removed as this will have an impact on the property sector.
RPGT was initially implemented as a cooling measure to curb speculation during periods of high property market activity.
Jalil believes it is also positive that the government is providing some incentives for the tourism industry, which has been devastated by Covid-19.
Berjaya, he said, welcomes these initiatives because the group's hospitality division was hit hard last year.
He stated that, while there has been an increase since the Movement Control Order (MCO), the tourism sector is still extremely weak, and any assistance is critical.
"This is clearly a pandemic budget. The health and education focus is a relief as the pandemic has made very clear how these are critical sectors that can do with a lot more," he said.
Jalil was also encouraged to see some recognition for women and the role they play in the country's economy.
"The mandatory inclusion of women at board level is a start but we still have a way to go," he said.
According to Jalil, more than half of Berjaya Corp's board of directors are women.
On the digital front, Jalil stated that the Jendela initiative is critical to closing the digital divide.
"Overall, the government has made an effort to be inclusive," he said.
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