This article intends to address the effect and consequences of money laundering over real estate and the legal profession in Malaysia. The flow of this article will be to extract the finer points of money laundering and how it usually comes into play; before cross-referring with real estate and the legal profession. Effectively, this write-up…

By Richard Wee, Sarah Kambali, Darren Tan & Oh Jia Ling Photo by rawpixel.com from Pexels Purchasing or selling a property in Malaysia can be complicated with layers of administrative challenges. Embedded in these property transactions are statutory rules, legal practices and commercial documentation. For many first time property buyer, or even regular property investor; buying…

by Lim Jo Yan and Teoh Huei Wen The Passing of Companies Bill 2015 On 4 April 2016, the Malaysian Parliament passed the Companies Bill 2015.The Bill was formulated with an aim to revamp the existing corporate landscape in Malaysia under the Companies Act 1965 (“Act”), of which some provisions were deemed to be obsolete…

  by Lim Jo Yan and Mak Ka Wai RPGT is a tax chargeable on the profit gained from the disposal of a property and is payable to the Inland Revenue Board. As such, RPGT is only applicable to a seller. For example, A bought a piece of property in 2000 at a value of…

by Raymond Mah, John Chan and Denise Phang This article examines the effect of the Goods and Services Tax (“GST”) on Management Corporations and Joint Management Bodies of stratified development areas, and takes a look at pre and post-GST charges imposed on parcel owners. What is GST? GST came into effect on 1 April 2015…

by Lim Jo Yan and Mak Ka Wai Generally, an acquisition of property attracts stamp duty exposure and a disposal of property may attract real property gains tax (“RPGT”). Stamp duty is calculated on the market value of the property at the time of the acquisition whereas RPGT is calculated on the profit gained from…

by Raymond Mah and Sunitha Balasundaram Introduction The compulsory acquisition of land is the process by which the government acquires from private landowners their land which is needed for any public purpose or for a purpose beneficial to the economic development of Malaysia. It is a drastic form of governmental intervention as it results in…

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