Deputy Finance Minister Lim Hui Ying said tax revenue remains the main contributor at 79.5 per cent of total revenue, or 12.57 per cent of GDP, while non-tax revenue represents 20.5 per cent. — Bernama picKUALA LUMPUR, March 27 — The Federal Government’s 2024 revenue projected to increase to RM312.159 billion after taking into account Budget 2024 tax measures, contributed by higher tax revenue collection and better economic growth.
Lim said the government is committed and has taken steps to diversify and increase the country’s sources of income.She explained that revenue mobilisation measures include broadening the tax revenue base, improving and revising tax structures and legislation, and the provision of tax incentives. The service tax rate was also raised to eight per cent from six per cent for all services, with the exception of food and beverages, telecommunication, parking and logistics services.
We have summarized this news so that you can read it quickly. If you are interested in the news, you can read the full text here. Read more:
Malaysia Latest News, Malaysia Headlines
Similar News:You can also read news stories similar to this one that we have collected from other news sources.
Transport Ministry: New KLIA Aerotrain will go operational earliest by end 2024KUALA LUMPUR, March 26 ― Transport Minister, Anthony Loke said that KLIA’s Aerotrain is scheduled to commence operations by the earliest end of 2024 and no later than March...
Source: malaymail - 🏆 1. / 86 Read more »
Elevete Patisserie Tampil Dengan Koleksi ‘Dessert’ Sempena Hari Raya AidilfitriKoleksi The Elevete Patisserie Raya 2024 boleh dibeli bermula hari ini sehingga 30 April 2024.
Source: therakyatpost - 🏆 14. / 59 Read more »
Finance Ministry: Govt always takes cautious approach when reforming tax systemKUALA LUMPUR, March 19 — The government has always taken a cautious approach to reforming the national tax system, said Finance Minister II Datuk Seri Amir Hamzah Azizan. He...
Source: malaymail - 🏆 1. / 86 Read more »
Agreement with Spanco still in force, says Finance MinistryThey are hosts of travel reality series 'Girls' Spectacular Journey'.
Source: staronline - 🏆 4. / 75 Read more »
Finance Ministry finalising several HVGT policies, says Anwar(Reuters) - Popular messaging platform Telegram raised $330 million through bond sales last week, founder and CEO Pavel Durov said on Monday.
Source: staronline - 🏆 4. / 75 Read more »
Adopt 'Malaysia First' attitude to strengthen ringgit, says Finance Ministry(Reuters) - Fenerbahce will consider withdrawing from the Turkish top flight after some of their players were attacked by Trabzonspor fans following their weekend away win, the Super Lig club said on Monday.
Source: staronline - 🏆 4. / 75 Read more »