REAL PROPERTY GAINS TAX a) Pursuant to the provision of the Real Property Gains Tax Act, 1976 (hereinafter referred to as “the said Act”) and for the purpose of this sale, the Purchaser shall deduct a sum of equivalent to 3% of the Purchase Price and shall pay the said 3% of the Purchase Price to the Director General of Inland Revenue Malaysia within sixty (60) days from the date of disposal of the Property.
REAL PROPERTY GAINS TAX. 9.1 The Vendor shall be responsible for paying and settling all real property gains tax (if any) payable on the disposal of the Property pursuant to this Agreement as may be assessed by the Director General of Inland Revenue under the provisions of the Real Property Gains Tax Act, 1976.
REAL PROPERTY GAINS TAX. (a) The parties covenant and agree with each other that they shall within sixty (60) days from the date of execution of this Agreement comply with the provisions of the Real Property Gains Tax Act, 1976 or any amendments or statutory modification thereof ("the Act") by submitting the necessary return forms to the Director General of Inland Revenue ("the Director General") and comply with all necessary directives that may be issued by the Director General.
REAL PROPERTY GAINS TAX. 8.1 The parties hereto shall duly submit to the Director General of Inland Revenue, West Malaysia, the notification forms prescribed under Real Property Gains Tax Act 1976 within the prescribed time in respect of the sale and purchase of the said Property and furnish all such information, particulars and documents as may be required by the Director General in connection therewith. The Vendor shall forward a copy of acknowledgment of such submission to the Purchaser's Solicitors forthwith upon receipt.
REAL PROPERTY GAINS TAX. The Vendor hereby confirms that the Vendor has owned the Property for a period exceeding five (5) years. As such, the Parties hereby agree that neither the Vendor’s Solicitors nor the Purchaser’s Solicitors are obliged to retain any sum from the Balance Purchase Price for payment of any Real Property Gains Tax.
REAL PROPERTY GAINS TAX. 15.1 The parties hereto shall submit notice of the acquisition and disposal of the said Property to the Director-General of Inland Revenue in the prescribed forms within sixty (60) days from the date of this Agreement pursuant to the provisions of the Real Property Gains Tax Act, 1976 or any modifications or re-enactment thereof.
REAL PROPERTY GAINS TAX. 16.1 The Vendor and the Purchaser do hereby agree covenant and undertake with each other to inform the relevant authorities of the sale herein contained within Sixty (60) days from the date of the Unconditional Date and each party shall individually do all acts execute all letters documents or instruments and file all returns as may be necessary under the Real Property Gains Tax Act, 1976.
REAL PROPERTY GAINS TAX. 6.1 Each party shall file the necessary return under Section 13 of the Real Property Gains Tax Act 1976 within the time prescribed in the section.
REAL PROPERTY GAINS TAX. 8.8:1 The Vendor's Solicitors shall upon payment to them of the Tax Retention in accordance with the provisions of Clauses 7.1:2 hold the Tax Retention until the Vendor's Solicitors have received a copy of the Certificate of Clearance from the Director- General or evidence of payment of the Assessment Notice whereupon the Vendor's Solicitors shall pay the Vendor the Tax Retention or in the event the Vendor's Solicitors have paid the Director-General in accordance with the provisions of Clause 8.8:2, such part of it remaining if any.
REAL PROPERTY GAINS TAX. (a) The Vendor hereby declares and represents that it has purchased the Properties for more than five (5) years and as such no Real Property Gains Tax is payable with regard to the disposal of the said Properties in favour of the Purchaser in accordance with the terms and conditions herein and the Vendor undertakes to sign a form CKHT 1A and 3 and lodge the same with the Inland Revenue Department and forward the same to the Purchaser's Solicitors for the Purchaser to lodge in the CKHT 2A with the Inland Revenue Department..
