Media statement by DAP ADUN for Kampung Tunku Lau Weng San on 30th June 2016 in Petaling Jaya:
I find it enormously absurd when the Federal Government lately announced that there will be various tax breaks for Bandar Malaysia projects when millions of genuine Malaysian housebuyers and vendors have to pay various taxes when they transact.
The multi-billion ringgit Bandar Malaysia township is located at the old Sungai Besi Airport. The development is expected to house the Kuala Lumpur-Singapore High Speed Rail. The tax breaks include an eight-year waiver on stamp duties, Real Property Gains Tax and withholding tax.
In addition to that, the master developers and Bandar Malaysia subsidiaries will also enjoy a10-year income tax breaks and import duty exemption on selected construction materials.
Therefore, it is equally absurd when the master developers of Bandar Malaysia and its subsidiaries are entitled to various tax breaks while many other developers, many of them are medium-size developers are unable to enjoy such tax breaks.