1 Mar 2021
1. ) 1. Continental Choice Sdn Bhd 2. CB Ventures Sdn Bhd 2. ) Ketua Pengarah Hasi Dalam Negeri 1. ) Ketua Pengarah Hasil Dalam Negeri 2. ) 1. Continental Choice Sdn Bhd 2. CB Ventures Sdn Bhd
- Citation
- W-01(A)-275-04/2018 (Mahkamah Rayuan)
- Court
- A
- Case number
- W-01(A)-275-04/2018 (Mahkamah Rayuan)
Paragraph 34A Schedule 2 RPGTA unambiguously defines a 'real property company' where defined value of real property and/or shares equals at least 75% of total tangible assets and deems acquisition/disposal of shares in such a company to be acquisition/disposal of a chargeable asset; Bioford met that statutory test (real property >75% of tangible assets) and paragraph 34A applies irrespective of the company's business purpose or shareholders' intention, therefore RPGT is payable on the gains from disposal of the Bioford shares.