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What is the real property gains tax payable by cool bhd

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Reference no: EM132944826

On 10 October 2014, Cool Bhd (Cool) paid a deposit for the purchase of a property, although there was no written agreement. The legal title of the property was transferred to Cool on 4 April 2016 and Cool paid the full consideration to the seller on 12 June 2016.

In 2018, Cool decided to sell the property and found a suitable purchaser. On 18 November 2018 it entered into a sales and purchase agreement (SPA) with the purchaser. The full consideration was received by Cool on 26 May 2019, and the legal title was transferred on 2 June 2019.

The chargeable gain arising on the sale was RM500,000.

Problem 1: What is the real property gains tax (RPGT) payable by Cool Bhd on the sale of the property?

A. RM150,000
B. RM100,000
C. RM25,000
D. RM75,000

Reference no: EM132944826

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