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Govt to introduce minimum effective tax base to widen tax base, attract FDI -- Tengku Zafrul

07/10/2022 06:07 PM

KUALA LUMPUR, Oct 7 (Bernama) -- The government will introduce a minimum effective tax base to enable Malaysia to broaden its tax base and attract foreign direct investment (FDI), said Finance Minister Tengku Datuk Seri Zafrul Abdul Aziz.

He said this move is in line with the recommendation under Pillar 2 of the Base erosion and profit shifting (BEPS) 1 Action Plan and as the country's effort to maintain competitiveness in attracting FDIs.

"The government also plans to implement Qualified Domestic Minimum Top-up Tac following further study and this is targeted in 2024,” he said when tabling Budget 2023 in the Dewan Rakyat today.

-- BERNAMA


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