Business group fears proposed gains tax will lead to capital outflows | The Malaysian Insight

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Business group fears proposed gains tax will lead to capital outflows

ACCCIM says Budget 2023, in integrating environmental, social and governance into business practices, will enhance economic resilience and sustainability. – The Malaysian Insight file pic, February 24, 2023.

THE Associated Chinese Chambers of Commerce and Industry of Malaysia today expressed concern that the proposed capital gains tax on the disposal of non-listed shares in 2024 in Budget 2023 will widen to cover other asset classes, leading to capital outflows. ACCCIM, nonetheless, described the budget that was tabled by Finance Minister Anwar Ibrahim as a “responsive and inclusive growth-oriented budget” encompassing everyone – the people, businesses and industries.

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