Malaysia SME brought together five experts to get feedback on the recent budget. The general consensus - a generous Budget, but perhaps we should be bolder in cutting spending, taxes, improving governance and having a more laser-like focus on targeting industries, talent and technology.
Ng Sue Lynn, executive director, indirect tax practice, KPMG Malaysia said: “I agree that this is a commendable budget. The government needs to spend to improve the economy. And I noticed that they are stressing on infrastructure and logistics, which I believe is because of the TN50 vision.”“
PM said in his Budget speech that there will be an increase in revenue collections through direct and indirect taxes. Because there are no new taxes, I think he will increase it through compliance especially with the GST in the third year. That’s the area they’ll look at to fund all the investments that the government is doing. But overall, the Budget is trying to cover all areas.”
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