Cutting double taxation to lower business costs

KUALA LUMPUR (Nov 5): The announcement that exemptions will be granted for specific business-to-business (B2B) service tax from Jan 1, 2019 for registered service tax entities would help lower the costs of doing business by eliminating pyramiding taxation, or the tax-on-tax effect.

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Is it an indirect ‘Robin Hood’ budget?

KUALA LUMPUR (Nov 5): Three years ago, when former prime minister Datuk Seri Najib Razak, who was also the finance minister, unveiled Budget 2016, many labelled it the “Robin Hood” budget — a reference to a fictional character who took from the rich to give to the poor — simply because the personal income tax rate of those in the higher income bracket was raised.

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