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Malaysia Hints At Sector Tax Breaks In Upcoming Budget

by Mary Swire, Tax-News.com, Hong Kong

25 July 2017


Malaysia is to use targeted tax breaks to support certain industries in this year's budget and in particular small and medium sized businesses, according to a government minister.

The New Straits Times news agency reported comments from Second Minister for Finance Datuk Seri Johari Abdul Ghani after a recent conference.

He reportedly said that "it can no longer be incentives for all; whatever tax incentives the government will give, they will be given to industries that we want to promote." He hinted that the Government may answer businesses' requests for tax breaks for automating processes, given reported labor shortages.

TAGS: Finance | tax | business | value added tax (VAT) | tax incentives | budget | Malaysia | tax breaks

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