Finance Ministry: Govt always takes cautious approach when reforming tax system

Finance Minister II Datuk Seri Amir Hamzah Azizan said that although there is a need to grow the country’s revenue, the government needs to balance that desire by taking into account the need to protect the people from excessive burdens. — Bernama picKUALA LUMPUR, March 19 — The government has always taken a cautious approach to reforming the national tax system, said Finance Minister II Datuk Seri Amir Hamzah Azizan.

“An example of tax reform is the increase in the service tax rate from six per cent to eight per cent effective from March 1, 2024, which focuses on activities related to discretionary services and activities between businesses ,” Amir Hamzah said during a question and answer session at the Dewan Negara today.He said the increase in service tax does not involve services that are a basic need and part of the people’s lifestyle.

“The government will remain committed to fiscal consolidation in the medium term and special focus will be given to ensure fiscal sustainability through sustainable revenue generation and expenditure effectiveness through increased efficiency, reducing leakage and waste,” Amir Hamzah said.

ایران آخرین اخبار, ایران سرفصلها

Similar News:همچنین می توانید اخبار مشابهی را که از منابع خبری دیگر جمع آوری کرده ایم، بخوانید.

Adopt 'Malaysia First' attitude to strengthen ringgit, says Finance Ministry(Reuters) - Fenerbahce will consider withdrawing from the Turkish top flight after some of their players were attacked by Trabzonspor fans following their weekend away win, the Super Lig club said on Monday.
منبع: staronline - 🏆 4. / 75 ادامه مطلب »

Finance Ministry: Ringgit's decline driven by stronger US dollar, China uncertainty(Reuters) - Fenerbahce will consider withdrawing from the Turkish top flight after some of their players were attacked by Trabzonspor fans following their weekend away win, the Super Lig club said on Monday.
منبع: staronline - 🏆 4. / 75 ادامه مطلب »

Finance Ministry finalising several HVGT policies, says Anwar(Reuters) - Popular messaging platform Telegram raised $330 million through bond sales last week, founder and CEO Pavel Durov said on Monday.
منبع: staronline - 🏆 4. / 75 ادامه مطلب »

Agreement with Spanco still in force, says Finance MinistryThey are hosts of travel reality series 'Girls' Spectacular Journey'.
منبع: staronline - 🏆 4. / 75 ادامه مطلب »

Ministry of Finance: TCM practitioners exempted from 8pc service taxPUTRAJAYA, Feb 19 — Traditional and complementary medicine (TCM) practitioners who are registered under the T&CM Act 2016 [Act 775] will be exempted from the eight per cent...
منبع: malaymail - 🏆 1. / 86 ادامه مطلب »