CIDB Wants Govt To Cut Machinery Taxes In Budget 2018

Last update: 14/09/2017

KUALA LUMPUR, Sept 14 (Bernama) -- The Construction Industry Development Board (CIDB) has asked the government to reduce taxes for construction machinery for the Industrialised Building System (IBS) projects to between five and zero per cent in Budget 2018.

Its Chief Executive Officer, Datuk Ahmad Asri Abdul Hamid said currently, the machinery tax rates varied and could reach up to 20 per cent.

"The move would encourage the use of construction machinery rather than being over-reliance on foreign workforce," he said when responding to a question on CIDB's Budget 2018 wish list at a media briefing on the Public Works Department (JKR) Transformation Through Public Projects here, today.

Ahmad Asri said currently, taxes imposed on certain machinery were relatively high compared with that of other ASEAN countries.

He said the government should reduce the taxes to allow more companies, particularly small firms, to buy new machines if it wanted to encourage mechanisation and automation of the IBS construction approach.....