Latest Project Highlights
 
Kensington Gardens, Jesselton, Penang
  Call our sales professionals : Max Wong +60 16 412 5582 Edwin Ong +6012 402 3155 Cheng Li Pin +6012 514 0836...
TROPICANA THE RESIDENCES @ KLCC
Henry Butcher Real Estate Penang is pleased to announce its appointment as the Sole & Exclusive Marketing Agent,...
Moulmein Rise Luxury Suites, Penang
  Moulmein Rise, luxury suites located in the heart of Pulau Tikus, Penang. Location : 5 mins walk to Gurney...
Setia V Residence, Gurney Drive
There are those who live, and those who live well. At Setia V Residences, you’ll take your place among an...
The Coastal, Batu Maung, Penang
LIfe is complete at The Coastal. An integrated development at the futuristic award-winning Southbay City. The...
The Rice Miller City Residences & Hotel
   The Rice Miller City Residences & Hotel, located in the heart of George Town Unesco Heritage Site...
Rice Miller City Residences
                               ...
The One, Penang Cyber City
CAPTURING IMAGINATION REALIZING DREAMS Unique, Unequaled and cutting edge, The One is gearing up to be one of the...
One One Eight @ Island Plaza
One One Eight @ Island Plaza A Seamless Style of Living 118 @ Island Plaza takes its cue from the energy, vivacity...
New high-end luxury condominium in Penang island

Guan Eng: Finance Ministry may retract construction services tax exemption if house prices not reduc

 

KUALA LUMPUR (Sept 24): The Finance Ministry may retract the tax exemption for construction services if property developers in Malaysia fail to reduce house prices. 

Speaking to reporters at the REHDA Institute CEO Series 2018 (Annual Property Developers Conference) here today, Finance Minister Lim Guan Eng said the ministry wants to focus on reducing prices of residential properties, in particular those priced at RM400,000 each and below.

"We want to see a reduction of housing prices, and we are not interested to see any additional perks (freebies, rebates, etc)," Lim said.

REHDA acknowledges with the abolishment of the Goods and Services Tax, there will be direct savings of 6% for buyers of commercial and industrial properties, REHDA president Datuk Soam Heng Choon said.

"We would want to call on all developers to pass on whatever savings to purchasers, on top of whatever discount and rebate that they are giving," Soam added. 

Source: The Edge Markets