Capital gains tax (CGT) is a tax levied on capital gains accruing from disposals of investments, such as shares, bonds, cryptocurrencies, precious metals, real properties, etc. . In Malaysia, CGT is not imposed except for gains arising from the disposal of real property in Malaysia, which may be subject to Real Property Gains Tax (RPGT) at a maximum rate of 30% . However, in the tabling of the Revised Budget 2023, the Prime Minister and Finance Minister of Malaysia announced the introduction of CGT on the disposal of unlisted shares by companies beginning in 2024. The proposed CGT in Malaysia will only be imposed on capital gains from the disposal of unlisted shares by companies. The rate of the CGT in Malaysia is 10% . The introduction of the CGT aims to align Malaysia with international taxation norms, joining nations such as Thailand, Indonesia, Vietnam, Cambodia, and Myanmar. However, the Small and Medium Enterprises (SMEs) in Malaysia are disappointed with the introduction of the capital gain tax under the 2024 Budget.