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Tax experts: Budget 2025 to see expanded tax scope, new taxes unlikely
29 Sep 2024
Datin Seah Siew Yun, National Tax Practice Leader shared her insights on Budget 2025 with The Edge Weekly.
She highlighted the challenges posed by the recent service tax increase from 6% to 8%, especially in industries like logistics where providers are now required to apply the tax, leading to higher prices for consumers. Seah stresses the need for careful balancing when implementing new taxes, warning against disproportionately burdening SMEs, which are vital to the Malaysian economy. She also notes that Malaysia has limited options for introducing new taxes, as many measures, such as digital and environmental taxes, are already in place or being considered.
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