Following the tabling of the 2024 Budget, the Finance (No. 2) Bill 2023 was released on 7 November 2023 incorporating further details on some of the announcements made in the Budget as well as some additional proposals. The Finance (No. 2) Bill 2023 includes proposed amendments to the following Acts:
- Income Tax Act 1967
- Labuan Business Activity Tax Act 1990
- Real Property Gains Tax Act 1976
- Stamp Act 1949
- Petroleum (Income Tax) Act 1967
- Sales Tax Act 2018
- Service Tax Act 2018
- Tourism Tax Act 2017
Our Finance (No. 2) Bill 2023 Highlights are intended to provide a general overview of the key proposed tax changes covering direct taxes, real property gains tax, stamp duty as well as indirect taxes such as sales tax, service tax and tourism tax. It should not be used or relied upon as a substitute for detailed advice or as a basis for formulating business decisions.
The Finance (No. 2) Bill 2023 Highlights and relevant reading materials can be accessed via the link above.
