KUALA LUMPUR: The government’s announcement on mitigating the impact of the global minimum tax (GMT) is timely, said the Chartered Tax Institute of Malaysia (CTIM).
Its president, Soh Lian Seng, said the announcement aligns with the government’s ongoing commitment to maintaining Malaysia’s competitiveness as an investment destination for multinational corporations (MNCs) and sends a positive signal to investors.
“Malaysia is implementing GMT of 15 per cent in 2025 for multinational companies (MNC) with a global income of at least 750 million euros (1 euro = RM4.67).
“This is expected to impact the benefits of existing tax incentives enjoyed by MNCs,” he said in a statement.
Soh added that CTIM looks forward to providing feedback to the tax authorities on possible tax measures to mitigate the impact of the GMT.
