fbpx
Connect with us

News

Govt May Impose Taxes On Those Who Earn Hefty Returns From Stock Market Investments

Published

My Post 2021 10 12T171135.025
Source: 123rf & 123rf

Follow us on Facebook, Youtube, Twitter, and Instagram for the latest stories and updates daily.

The government is looking to potentially introduce the Capital Gains Tax (CGT) on the stock market, on a temporary basis, to provide more revenue to the country.

Based on a report by Sinar Harian, Pontian Member of Parliament, Datuk Seri Ahmad Maslan, shared that the tax can help the government in enduring the difficulties of the pandemic.

“This CGT is a good proposal that we may be able to impose for a while,”

“Yang Berhormat Pekan (Datuk Seri Najib Tun Razak) had previously also suggested that temporary taxes be imposed when times get difficult,”  he said.

108338766 L

He had shared this in response to Datuk Seri Dr Ahmad Zahid Hamidi (BN-Bagan Datuk), on whether he agrees with the suggestion that CGT should be introduced, during the debate session on the extraordinary profit levy bill.

He went on to explain that CGT will have a good and bad impact on the stock market or the capital market.

“However, when times are difficult, it gives benefits, which is to give more income to the government.”

This comes after Ahmad Zahid had asked that the extraordinary profits bill not only be imposed on commodities, that the government should also impose taxes onto investors and companies that make extraordinary profits, including those that heftily earn from stock markets.

“When the stock market reaches the level of ‘bull run’ (an extraordinary jump) to 1,200 points, then the increase in share prices is extraordinary too. But (so far) no tax is levied on this capital gain,” Ahmad Zahid said.

Hence, if you’ve invested in cryptocurrencies and are making quite the income from it, be prepared to potentially be taxed.

What do you think about this? Let us know in the comment section.

 

Also read: Attempted Suicide Will Soon No Longer Be Considered a Crime in Malaysia

My Post 2021 10 07T132617.544

Source: 123rf


Follow us on Facebook, Youtube, Twitter, and Instagram for the latest stories and updates daily.



Just In

1 003 1 003
News14 hours ago

UMNO Leaders Want Dissolution Of Parliament, No Matter What!

UMNO leaders have confirmed that they want the dissolution of Parliament to take place this year, but whether or not...

2 007 2 007
News14 hours ago

Zahid Says Flood Concerns Are A ‘Myth’, BN Ready For GE

Following UMNO’s consensus on dissolution of Parliament and a call for GE15 in the nearest time, UMNO President Datuk Seri...

Ft Umno Ft Umno
News20 hours ago

Tajuddin & Alor Setar UMNO Chief Face 6 Year Suspension by Party For Going Against Leadership

It has just been reported that Member of Parliament for Pasir Salak, Datuk Seri Tajuddin Abdul Rahman and Alor Setar Division...

Feat Image Umno Supreme Council Ge15 Feat Image Umno Supreme Council Ge15
News21 hours ago

UMNO Wants GE15 This Year, Ismail Sabri Will Propose Parliament Dissolution Date To Agong Soon

General Election 15 (GE15) is likely to take place this year as UMNO Supreme Council yesterday announced that it has...

Ft Fire Ft Fire
News2 days ago

M’sian Lecturer Who Asked His Students to Fill Up Inappropriate Sexual Survey Gets Fired by Uni

Last month, a former student of a local university in Johor shared the traumatic experiences she had with her former...

Collage 39 Collage 39
News2 days ago

Ousted Leader Aung San Suu Kyi is Sentenced to 3 years in Prison by Myanmar Junta Court

Myanmar’s junta sentenced an Australian economist to 3 years in prison while also handing down another conviction to ousted leader...

Bring Meat Into Singapore 1 Bring Meat Into Singapore 1
News2 days ago

Man From China Tried To Bring 226KG of Meat Into S’pore, Slapped With RM56,600 Fine

Many of us like to bring food over from our own country when travelling. However, when food items exceed a...

My Post 1 2022 09 30T111411.779 My Post 1 2022 09 30T111411.779
News2 days ago

Kidnapped Cosmetics Agent Has Been Found & Brought Back To Malaysia By PDRM!

The cosmetics agent that was kidnapped from her home by a group of men in Kelantan on September 13 (Thursday)...

Announcement

Latest Videos



TRENDING TODAY