TO further promote the development of Real Estate Investment Trusts (REITs) and boost the capital market, as well as investment in real estate, tax incentives have been extended for another three years.
In his Budget speech on Friday, the Prime Minister said investors in REITs will be given the following tax incentives;
Foreign institutional investors, particularly pension funds and collective investment funds receiving profit distribution from REITs listed on Bursa Malaysia are subject to final withholding tax at 10% from Jan 1, 2012 until Dec 31, 2016.
Non-corporate investors including resident and non-resident individuals and other local entities receiving profit distribution from REITs listed on Bursa Malaysia are subject to final withholding tax at 10% from Jan 1, 2012 until Dec 31, 2016.
This is effective Jan 1, 2017 until Dec 31, 2019.
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