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BUDGET 2021

Budget: Credit system for sales tax deductions to be introduced

07/11/2018 10:56 AM

KUALA LUMPUR, Nov 2 (Bernama) -- The government will introduce a credit system for sales tax deductions from Jan 1 next year, said Finance Minister Lim Guan Eng.

 “This will ease the burden of registered small manufacturers that purchase manufacturing inputs from importers and not from registered manufacturers,” he said when tabling the 2019 Budget in the Dewan Rakyat today.

Lim also said the credit system would also be able to avoid double taxation and reduce business costs.

-- BERNAMA

 

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