The Budget speech stated that a Budget 2022 Committee (the Committee), chaired by the prime minister and coordinated by the Ministry of Finance, will be established to ensure that the measures under the federal budget achieve their objectives. For example, the EU Council recently added Malaysia to its so-called “grey list”, due to Malaysia’s FSIE regime. One way to boost taxpayer and investor confidence is to ensure clear and regular communication on impending tax changes. In the immediate term, the authorities should actively seek and monitor taxpayer feedback on the Budget 2022 proposals. We look forward to the success of the Committee and in seeing the Budget 2022 proposals spur Malaysia to greater heights.

Source: The Edge Markets November 09, 2021 03:36 UTC