JOHOR BARU – Although the government has yet to make decisions on the implementation of a luxury tax scheme, announcements on the matter can be expected by the middle of the year, said Deputy Finance Minister Datuk Seri Ahmad Maslan.
Speaking in the Dewan Rakyat, the Pontian MP explained that the government is still studying the matter to determine specifics on the duties.
However, Ahmad said there should be announcements made by the government over luxury taxes by June.
“We are still studying the matter. We are determining what items are to be taxed, how to implement the system, and how much taxes to charge.
“We have yet to determine these specifics, but we are seeing to it that we will make announcements by June,” Ahmad said during the Budget 2023 winding-up speech.
Meanwhile, on subsidies, Ahmad said the Finance Ministry has allocated RM42.4 billion for various matters.
He said RM26 billion was allocated for petroleum products, RM8 billion for electricity bills, RM8 billion for Sumbagan Tunai Rahmah, and RM500 million for toll compensation.
As for targeted subsidies, Ahmad explained that the government is looking into providing allocations for electricity and diesel, while targeted subsidies for RON95 petroleum will be looked into at a later stage. – The Vibes, March 13, 2023
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