Ministry may cut tax to help developers cope
KUALA LUMPUR: Reducing tax on building materials and stamp duty charges for sale and purchase agreements are among ideas being considered by the Housing and Local Government Ministry to help developers counter the rising prices of raw materials.
Minister Datuk Seri Ong Ka Chuan said the Government was working on measures following a memorandum from the developers that costs had increased because of the recent increase in fuel prices.
The ministry would make the necessary suggestions to relevant authorities like the Finance Ministry, he said.