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.