It has been close to one and a half years since Malaysia went into MCO on 18th March 2020. Since then, our economy as well as our emotions and outlook have gone through ups and downs. As we draw closer to a full vaccination for the entire Malaysian population, there are higher hopes of emerging from this pandemic and reverting to normal life. But what else has the government planned for the devastated SME sector, the disruptions in supply chain, and the severely affected business sectors especially the hospitality sector?
Since the first MCO, the Government has announced 9 Stimulus Packages culminating in the Pemulih Package which is worth RM150bil. Certainly, a significant amount of stimulus has been injected into the economy. Meanwhile, the government coffers are drained and require funding or additional revenues. Will it mean more taxes, new taxes or changes to tax rules to bring in more revenues? We wait with bated breath because most sectors of the economy have been emaciated and are in no position to bear more taxes.
Nevertheless, we look forward to the Budget because if the government is innovative, it should propose measures to stimulate the economy instead of imposing additional taxes.
In this year’s Budget Conference, we are excited to share new perspectives of the Government Budget and the tax landscape.
Malaysia Tax Budget Conference 2022