00:00Prime Minister Datuk Sri Anwar Ibrahim told the Dewan Rakyat in a written parliamentary
00:06reply that the government had decided not to proceed with its implementation of the
00:10proposed high-value goods tax.
00:12Anwar said, however, the underlying principle has been incorporated into the revised sales
00:17tax framework, with luxury and discretionary items now taxed at either 5% or 10%.
00:23He said the newly implemented low-value goods tax, effective from January 1st last year,
00:28had brought in around 500 million ringgit in revenue this year.
00:32The luxury goods tax was initially slated to commence in May last year.
00:36Anwar said the government's latest review of the sales tax rate and expansion of the
00:40service tax scope, which came into effect on July 1st, is expected to increase national
00:44revenue by 5 billion ringgit this year and double that amount in 2026.
00:49He said the ongoing diesel subsidy rationalization has resulted in savings of up to 600 million
00:55ringgit a month for the federal government.
00:58Other fiscal reform measures have contributed to strengthening national revenue, including
01:02the implementation of the capital gains tax on unlisted shares.
01:07The government said it estimates revenue collection at around 800 million ringgit annually, but actual
01:13figures will only be confirmed after corporate taxpayers submit their annual income tax returns.
01:28So let's go ahead and see that.
01:35We'll be seeing a little bit more on the phone.
01:36So Game has been a little bit more on the phone.
01:38We'll be seeing a little bit more on the phone at the time.
01:39So we're seeing a little bit more on the phone.
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