SUBSIDY reduction is the most important issue that is likely to be the focus in Budget 2024 if Malaysia is to work towards reducing its budget deficit...
The government is likely to announce measures to channel fuel subsidies to targeted groups. – Bernamapicreduction is the most important issue that is likely to be the focus in Budget 2024 if Malaysia is to work towards reducing its budget deficit.
It is expected that development expenditure will be funded with borrowings. The only alternative to reducing borrowings will be through the introduction of new taxes and/or intensifying the enforcement of the existing tax rules. Both are painful remedies to reduce borrowings.Currently, there is no major exercise to review the country’s tax system or to reform the tax system on a totality basis. There does not seem to be an appetite to reintroduce the Goods and Service Tax .
It is likely that the coverage of the current Sales and Service Tax may be widened to include more goods and services. There is great effort put in by the IRB to promote e-invoicing, which will be implemented on June 1, 2024 for taxpayers whose turnover exceeds RM100 million. This will add to the government’s revenue as leakages in the system will be reduced and there will be greater transparency.
Italia Ultime Notizie, Italia Notizie
Similar News:Puoi anche leggere notizie simili a questa che abbiamo raccolto da altre fonti di notizie.
Education, health ministries among those with biggest allocations in Budget 2024, says AnwarBudget 2024 will be tabled in the Dewan Rakyat on Oct 13.
Leggi di più »
Labuan business group proposes 4 initiatives in 2024 budgetThe Labuan Chamber of Commerce’s first proposal is to reintroduce transhipment for alcohol and tobacco products such as cigarettes.
Leggi di più »
Budget 2024: Health, education ministries will continue to get biggest allocationsIPOH: The Health Ministry (MOH) and the Education Ministry will continue to get the biggest allocations under the Madani Budget 2024 to be tabled on O...
Leggi di più »
Budget 2024: Hospitality industry players call for increase in SST thresholdKUALA LUMPUR, Oct 1 — Tourism-related associations have expressed hope that the government will increase the Sales and Services Tax (SST) annual threshold for the hospitality...
Leggi di più »
Budget 2024 to focus on healthcare facilities, says AnwarIPOH: Healthcare facilities will be given focus comes Budget 2024, says Datuk Seri Anwar Ibrahim.
Leggi di più »
Budget 2024: Kuskop hopes to receive higher allocationsKUCHING: The Ministry of Entrepreneur Development and Cooperatives (Kuskop) is hoping for a higher budget allocation in 2024 to continue supporting en...
Leggi di più »