Recently, the Deputy Finance Minister said nearly RM105 billion has been collected as tax revenue as at end July 2023. This was up 30% from 2022. A new record in collection is expected by end of this year – another RM75 billion for the remaining five months (August to December)? That will make income tax collection to reach RM180 billion? Hopefully, that will reduce fiscal deficit (5% of GDP) and provide sufficient funding to support the B40 group.
References:
Revenue statistics in Asia and the Pacific 2023 – Malaysia, OECD
Income tax collection heading to record high, FMT Reporter, 17 August 2023
No comments:
Post a Comment