Finance Ministry: Govt conducting engagement sessions to review taxes

PETALING JAYA, March 15 — The government is engaging all stakeholders actively and extensively in reviewing several taxes, including the excise duty on premixed beverages and the low-value goods tax, the implementation of which had been postponed to an undetermined date.

“We at the MoF are also examining the implementation of the luxury goods tax which involves non-controversial goods such as gold for example, and how we can have mechanisms for foreign tourists such as rebates when they shop in Malaysia,” he told the media at KPMG’s Tax and Business Summit 2022 today.

He added that the Capital Gains Tax will be implemented in 2024 at a low rate as announced by Prime Minister and Finance Minister Datuk Seri Anwar Ibrahim during the Budget 2023 presentation on Feb 24.

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