Luxury tax in people’s best interests, says MOF undersecretary
The Finance Ministry should engage with the industry, retailers, manufacturers and tourism players in coming up with the luxury tax mechanism, its tax undersecretary Che Nazli Jaapar says. – The Malaysian Insight file pic, May 11, 2021.
THE luxury tax proposed under the retabled Budget 2023 is being scrutinised, prioritising the people’s best interests, Finance Ministry tax undersecretary Che Nazli Jaapar said. He said the government is studying other countries’ best practices on how the system can take effect in Malaysia. “What are the items, categories of things, or thresholds, and how does the government plan to impose the tax? Will there be new legislation for specific luxury taxes or will the government consider duties on existing taxes, for example, an excise of sales taxes?
“Further engagement with the industry, retailers, manufacturers, and even the tourism sector should be conducted because we do not want the industry to suffer when we implement the tax,” she said during the Budget 2023 seminar in Kuala Lumpur today. – Bernama, March 13, 2023.
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