KPMG-Specific Tax Incentives In Budget 2018 | KPMG | MY

KPMG-Specific Tax Incentives In Budget 2018 will aid business

KPMG-Specific Tax Incentives In Budget 2018

KPMG Tax Services Executive Director, Nicholas Crist said Malaysia’s tax legislation contained a significant number of tax incentives to attract investments into the country, noting that over the recent years, policymakers had been moving away from broad-based tax incentives and introducing more specific incentives.

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KPMG: Specific Tax Incentives In Budget 2018 will aid business

“Given that there are so many incentives, it would be appropriate to consider whether the time is right for some form of consolidation to make the system simpler to understand,” he told Bernama in an email interview.

Meanwhile, KPMG Tax Services Executive Director Ng Sue Lynn suggested that offshore suppliers of digital services should be required to register and remit the Goods and Services Tax (GST) for services rendered to consumers in Malaysia. “Such a measure, if successfully implemented, would effectively help in levelling the playing field between overseas and domestic suppliers, while simultaneously generating more tax revenue for the government,” she added.

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