The announcement of a ‘prosperity tax’ during the tabling of Budget 2022 most certainly came as a surprise to many.

KPMGin Malaysia’s Head of Tax,Tai Lai Kok, says sectors that could be subject to the prosperity tax in YA2022 include financial institutions as well as exporters.

"This additional tax collected can be channelled back to those who need it,but there should also be disclosures on how much was collected and where it will be going to," he adds.

Read the full article via the attached.