SP Setia: GST not payable for land
PETALING JAYA: SP Setia Bhd ’s wholly owned subsidiary, Setia Fontaines Sdn Bhd, has received solicitor advice that the acquisition of five adjoining parcels of freehold land should be goods and services tax (GST) exempted.
In a filing with Bursa Malaysia yesterday, SP Setia said the tax exemption would be pursuant to item 1(1) of the first schedule of the GST (exempt supply) order 2014.
“Setia Fontaines disagrees with the position taken by Boustead Plantations Bhd, and hence, strongly believes that GST is not payable for the parcels of land acquired.”
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