The Ministry of Finance said Wednesday that the government will seek revision of relevant laws in June to halve the special value added tax rate on capital gains from the sale of properties owned by Real Estate Investment Trusts (REITs) and Corporate Restructuring Vehicles (CRVs) to help expedite corporate restructuring.

Under revised laws, the special value added tax rate will be lowered to 7.5 percent from the current 15 percent.

CRVs, which are limited to real estate transactions involving only companies under corporate restructuring, will also get exemptions on acquisition and registration taxes.

REITs, which are licensed to handle any real estate, will get a 50 percent reduction on acquisition and registration taxes which currently reach two percent and three percent, respectively.