KUALA LUMPUR, Dec 23 — The Dewan Negara today unanimously passed the Finance Bill 2021 involving amendments to eight acts to pave the way for the implementation of measures announced in Budget 2022.
During the winding up debate on the Finance Bill 2021, Mohd Shahar said the Ministry of Finance has prepared medium-term strategies to raise tax revenue, broaden the government’s revenue base, harness the potential of the informal sector and reduce tax leakages. “However, there will be ongoing initiatives by the government to structure a tax system that is balanced, fair and equitable in order to raise the country’s revenue.