The introduction of the 'Cukai Makmur' in Budget 2022 should not result in a significant change in mood for investors and businesses alike, provided the Government keeps to its word that it is really a "one-off tax” during this time of need.
According to Tai Lai Kok, Head of Tax at KPMG in Malaysia, "The very high threshold set for this tax to apply - i.e. RM100 million in chargeable income - is unlikely to affect most Malaysian companies and thus, will be applauded by the Malaysian public in general."
Read his thoughts on this via the article below:
The Star - https://www.thestar.com.my/business/business-news/2021/10/29/kpmg-one-off-tax-on-super-profits-shouldn039t-be-a-concern