Corporate Tax

Malaysia can’t afford a 24 p.c corporate tax minimize

Malaysia cannot afford a corporate tax cut from its current 24 percent unless the country’s tax base is broadened and the country maintains above-average growth, said Finance Minister Tengku Zafrul Abdul Aziz.

“If you look at corporate income tax, it represents a large chunk of federal government revenue, about 32.8 percent of federal government revenue, including petroleum income tax, and given the widening budget deficit, which is expected to be around 6.5 percent Percent will be this year because of the pandemic. “

“(Therefore) Malaysia is, at this point in time, I don’t think Malaysia can afford a tax cut …

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