PETALING JAYA: Solar power-related players in Malaysia are among the key beneficiaries of Budget 2020, on the back of tax incentives aimed at boosting the Malaysian green economy. Budget 2020, which was tabled by Finance Minister Lim Guan Eng last Friday, introduced a 70% income tax exemption of up to 10 years for companies undertaking […]
Read MorePETALING JAYA: Tax experts and economists have deemed Malaysia’s economic growth forecast of 4.8% next year as being “quite optimistic, ” in light of the challenging external environment. Speaking at a panel discussion on the recent budget, Axcelasia Taxand Sdn Bhd chairman Veerinderjeet Singh said he expected Malaysia’s economic growth to be lower in 2020. […]
Read MorePETALING JAYA: A day before Budget 2020, the World Bank has recommended that the government broaden the coverage of items under the sales and service tax (SST) and expand personal income taxes, among potential measures to diversify Malaysia’s sources of revenue. The suggested measures are expected to rebuild the country’s fiscal buffers, which the World […]
Read MoreKUALA LUMPUR: Standard Chartered Global Research projects a 2020 fiscal deficit of 3.2% of gross domestic product, above the government’s target to narrow the deficit to 3% from 3.4% in 2019. Citing a weaker growth outlook, it added that this should not come as a surprise as the government has hinted at a more gradual […]
Read MoreOVER the last year, we have seen increased initiatives by the government to reduce carbon emissions by 45% (from the 2005 levels) by 2030, as committed under the 2016 Paris Agreement. Let us examine the key tax considerations and what we may (or may not) expect in the upcoming Budget 2020. Carbon pricing Carbon pricing […]
Read MoreKUALA LUMPUR: There is no reason for the government to reintroduce the Goods and Services Tax (GST) as frequent changes to the tax system will adversely affect the economy, lower investor confidence and bring a bad image to the country, says Tun Dr Mahathir Mohamad. “Many types of taxes have been introduced, there have been […]
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