KUALA LUMPUR: Clear guidance and timelines on new taxes, as well as consultations with industries on tax changes, are needed to foster a more business-friendly environment, said the Malaysian International Chamber of Commerce and Industry (MICCI) today.
Its president, Christina Tee, said that while several tax reliefs were appreciated, the frequent changes in recent years, including expanding the sales and service tax (SST) to new sectors, have placed additional burdens on businesses and individuals.
“We look forward to stronger collaboration between the public and private sectors to address the long-term economic and environmental challenges that lie ahead,” she said in a statement today in response to Budget 2025 that was tabled by Prime Minister Datuk Seri Anwar Ibrahim yesterday.
MICCI also commended the government’s continued focus on combating revenue leakage through strengthening enforcement to combat tax evasion, fuel smuggling, and subsidy fraud.
“The additional RM60 million allocation will contribute to sustained support and consistent engagement across multi-agency task forces as they are critical in curbing illegal activities and safeguarding tax revenue,” Tee said.
