Ngeh: End property gains tax to help spur economy

Beruas MP Ngeh Koo Ham has called on the Perikatan Nasional government to suspend or abolish the real property gains tax under the Real Property Gains Tax Act 1976 to help spur the economy.

In doing so, he argued that the Real Property Gains Tax Act 1976, introduced to limit property speculation in order to avoid spiralling prices and a potential property bubble, was not intended to be a revenue-generator.