Corporate Tax

Zafrul: Malaysia can’t afford a corporate tax lower from the present 24 p.c

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 of about 32.8 percent, including petroleum income tax, and given the widening budget deficit this year due to the pandemic.”

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

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