KUALA LUMPUR (March 8): The sales of unlisted shares through an approved initial public offering (IPO) will not be subject to capital gains tax, according to Prime Minister Datuk Seri Anwar Ibrahim.

Speaking at Invest Malaysia 2023 titled “Reshaping Malaysia’s Narrative: Strengthening Resilience & Sustaining Growth”, Anwar noted that he is aware of the investing fraternity’s concerns on the government’s proposed capital gains tax on unlisted shares at a “low rate”.

“I [also] would like to give you the government’s commitment that the [capital gains] tax will only be finalised upon extensive engagement with stakeholders, [and] secondly, the tax will not be introduced on listed shares,” said Anwar, who is also the finance minister, in his keynote address on Wednesday (March 8).

In a Budget 2023 speech last month, Anwar announced the proposal on the introduction of a capital gains tax on the sale of shares in private companies next year.  

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