Tengku Zafrul Claims That Prosperity Tax Helps a Lot to Ease Government Financial Burden
 
Petaling Jaya: Finance minister said that, government burden on subsidies will be lifted up with the help of one-off collection of a prosperity taxes. Even from the increasing cost in economy, government can still managed to provide subsidies with direct help from prosperity tax. As we know that taxation is one of government’s way to gain income and since people are paying their taxes, we can still enjoy many benefits from the subsidies.
Although to increase government income is by increasing tax rates, but it seems not a relevant move since the economy are still in recovery from the outbreak impact that have been affected not only our country but globally.
“Although the economy is expected to pick up this year compared to the last, I don’t think it’s the right time to introduce a new tax system yet,” Berita Harian quoted him as saying.
“We need to wait for the economy to become more stable first,” he said at a press conference after the launch of the Employees Provident Fund’s i-Lindung platform.
On June 8, deputy secretary general of ministry of finance Datuk Johan Mahmood Merican said that there are no new taxes that will be introduced including the Goods and Service and Tax for Malaysia until the country’s economy are recovering to normal back since the impact from COVID-19 that have been affecting globally since year 2020.
“For clarity, I want to make sure I start off by saying that no decision has been made on the reintroduction of GST. No new taxes are envisioned until [Malaysia’s economic] recovery is firmly on track,” he said at the two-day Invest ASEAN 2022 conference, which began on Wednesday.
“For clarity, I want to make sure I start off by saying that no decision has been made on the reintroduction of GST. No new taxes are envisioned until (Malaysia’s economic) recovery is firmly on track,” he said at the two-day Invest ASEAN 2022 conference, which began on Wednesday.
 
 
 
if you are interested in  knowing what other taxes that are related to your company, feel free to get in touch with us through email at info.quantumbpo@gmail.com
 
 
 
Reference:
https://www.theedgemarkets.com/article/mof-no-new-taxes-until-malaysian-economic-recovery-firmly-track
https://www.theedgemarkets.com/article/mof-no-new-taxes-until-malaysian-economic-recovery-firmly-track

Leave a Comment

Your email address will not be published.