Capital gains tax can affect small businesses, startups, says Dr Wee

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Capital gains tax can affect small businesses, startups, says Dr Wee
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PETALING JAYA: International students at Universiti Malaya (UM) are in a dilemma after learning that their tuition fees are higher than stated on the university’s website.

PETALING JAYA: The government has to think twice before implementing a capital gains tax , says Datuk Dr Seri Wee Ka Siong.

"This is dangerous because many do not want this," the MCA president said in a video posted on his Facebook page Thursday . "The Prime Minister had announced that for Budget 2023, the CGT will be enforced to 'Sdn Bhd' companies in Malaysia but not for companies listed on Bursa . "We want the economy to be vibrant and lively, and I also agree that they should not be charged the tax, but why is it reasonable to impose it on 'Sdn Bhd' companies?He added that he was worried over the implications of the CGT on the local startup scene, pointing out that startups in Singapore do not need to pay CGT.

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