In the Kuala Lumpur High Court case of Ketua Pengarah Hasil
Dalam Negeri v Tower Real Estate Investment Trust [2023] 2
MLRH 583 (this case hereinafter referred to as "Tower
REIT") the Respondent Taxpayer in this case
("Taxpayer") was a real estate
investment trust ("REIT") scheme that
was constituted under a principal deed dated 17 February 2006 and
restated by a deed dated 29 May 2014 entered into between GLM REIT
Management Sdn Bhd (GLM) acting as its manager, and AmTrustee
Berhad (AmTrustee) acting as its trustee, and was regulated by the
Securities Commission ("SC").
The Taxpayer was assessed to real property gains tax
("RPGT") by the Appellant in this case,
the Inland Revenue Board Of Malaysia
("LHDN"), under Part II of Schedule 5 of
the Real Property Gains Tax Act 1976
("RPGTA") on the gains from the disposal
of 19 parcels of office units in an office building that it had
acquired in two tranches, the 1st of which was on 16 October 2006
(1st tranche), and
