According to Tai Lai Kok Head of Tax at KPMG in Malaysia, the “Cukai Makmur” announced in Budget 2022 should not result in a significant change in mood for investors and businesses alike.
“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.
“That said, it is absolutely critical that the government keeps to its word that it is really a 'one-off tax' during this time of need,” he said.
Read his statement on Budget 2022 via the links below or in the attached.
- Daily Express: Tax on super profits won’t deter investors