Capital gains tax will ‘kill’ local equity market, says Rakuten Trade Online equity

[superadmin]

PETALING JAYA: The introduction of a capital gains tax (CGT) on listed shares would have a devastating impact on the Malaysian stock market, said Rakuten Trade today.

The online equity broker’s research head Kenny Yee said now is not the time for such a tax. Instead, it is time to attract funds and make it easier for foreigners to do business in Malaysia.

He said when the going gets good, the authorities tend to implement measures such as taxes that “make foreigners shun away from our local market”.

- More -

[mabotin]

Rakuten Trade warns that the introduction of capital gains tax could significantly harm the local equity market. They argue that it may discourage investments, making it harder for individuals to profit from their investments. To navigate this, individual tax services can help by explaining tax implications in easy words, offering a clear and human-friendly approach to understanding these changes.