He said the capital gains tax may be formulated for implementation in 2024. Read more at straitstimes.com.
MALAYSIA – Malaysian Prime Minister Anwar Ibrahim signalled that the South-east Asian nation may be considering additional taxes to boost state revenue and meet the target of almost halving the fiscal deficit by 2025.
The government is sticking to the plan to narrow the budget gap to 3.5 per cent of gross domestic product by 2025 as it sees the economy expanding by at least 5 per cent through the end of the five-year period covered by the 12th Malaysia Plan first presented by Datuk Seri Anwar’s predecessor in 2021.
Mr Anwar, during his speech to lawmakers, said that “the government today bears full responsibility to strengthen fiscal sustainability” and is “aware that efforts must be intensified to improve management of debt and liability towards achieving the fiscal deficit target” in 2025. Data from the first half of the year suggest the budget gap would be better than expectations on higher revenue, according to a note last month by economist Nazmi Idrus of CGS-CIMB.
Philippines Latest News, Philippines Headlines
Similar News:You can also read news stories similar to this one that we have collected from other news sources.
Germany in freefall after 4-1 shock loss to Japan as Euro 2024 loomsWOLFSBURG, Germany: Euro 2024 hosts Germany slumped to a shock 4-1 home loss to Japan in their international friendly on Saturday (Sep 9), deepening the sense of crisis hanging over them after their third straight loss less than nine months before the continental tournament. The four-time world champions,
Read more »
Germany in freefall after 4-1 shock loss to Japan as Euro 2024 loomsGermany have won just four of their last 17 international matches, putting coach Hansi Flick’s future in doubt. Read more at straitstimes.com.
Read more »
Talking Point 2023/2024 - How Nutritious Are Durians Really?Some of us love durians but are we having too much of a good thing? Steven Chia goes on a durian diet to find out what it does to his body! And we send durians to be tested for nutritional content.
Read more »
PM Anwar’s coalition retains both seats in Johor by-electionsThe Pakatan Harapan coalition has retained the Simpang Jeram seat and looks set to win in Pulai. Read more at straitstimes.com.
Read more »
Party president confirms Muda’s withdrawal from Malaysia’s unity govt, says will become ‘third force’Party's move is a protest against discharge granted to DPM Zahid Hamidi in a corruption case. Read more at straitstimes.com.
Read more »
Commentary: Malaysia opposition party PAS’ overconfidence might be its undoingIslamic party Parti Islam Se-Malaysia appears to be riding a wave of confidence after its solid wins in the recent state elections. It should be more circumspect, says ISEAS-Yusof Ishak Institute’s James Chai.
Read more »