Deputy Finance Minister I Datuk Mohd Shahar Abdullah when winding up the debate on the bill said a study on the withdrawal of tax exemption on foreign-sourced income had been made since two years ago.
“The Ministry of Finance also needs to take into account the involvement and commitment at the international level such as the Organisation for Economic Co-operation and Development and the European Union in setting the current taxation policies. “The Mof is committed to making sure the amendments to the Act will not have a negative impact on the people in general through a more transparent implementation plan whereby this additional income could be channelled to the country’s recovery programme,” he said.The bill among others stated that tax exemption of up to RM1,000 is given for individuals who take Covid-19 screening tests including for personal, spouse or children.
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