Economist Samirul Ariff Othman anticipates focus on high-income earners and luxury spending to strengthen public finances without burdening ordinary Malaysians
The luxury goods tax is expected to be implemented on May 1, 2024 as the Finance Ministry is finalising its policy and legislation on the matter, said Prime Minister Datuk Seri Anwar Ibrahim.
Chartered Tax Institute of Malaysia does not expect tax cuts for individuals or corporates, but more details on the luxury goods tax and the mechanism for capital gains tax in the upcoming Budget 2024.
This allegedly involves cabin services, cargo and logistics, engineering and maintenance, as well as the commercial division, according to Scoop’s source
