Qualified domestic minimum tax top-up tax to combat revenue leakages: Tax experts

The 15 per cent domestic minimum top-up tax (QMDTT) proposed in Budget 2023 is set to combat revenue leakages and profit-shifting activities in the country, said KPMG in Malaysia’s Head of Tax Soh Lian Seng

“The QDMTT, which will commence in 2024, will also allow Malaysia the first right to charge top-up taxes on revenue from entities located in Malaysia that are playing low taxes,” he said in a statement on Friday.

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