Wednesday, 26 Feb 2020 08:23 PM MYT
Deloitte Malaysia country tax leader Sim Kwang Gek said the outbreak has disrupted some supply chains of a number of sectors in the region and this presents an opportunity for Malaysia to showcase itself as a viable option to house their productions or operations. Sim said a special task force should be formed to identify and court the potential targets and facilitate the entire process of businesses setting up their operations in Malaysia.
A sales tax and duty exemption should also be considered for certain groups of manufacturers, while rebates or discount in electricity and gas will be welcomed to alleviate cash flow concerns. On the question whether the slated stimulus package may impact government’s budget, she said: “A wider budget deficit that is compensated by growth in domestic consumption and economic activities should not be a major cause for concern as long as money is well spent and contributes to economic growth for the country.”
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