More tax solutions needed in Malaysia

Chua recognised that the focus group needed to do more to improve tax ranking considering the impending Real Property Gains Tax and Goods and Services Tax that would be imposed in the next two years.

KUALA LUMPUR: Taxpaying in Malaysia will need some clever initiatives to rank better in the World Bank Doing Business 2015 report, according to the Special Task Force to Facilitate Business (Pemudah) paying taxes focus group chairman Datuk Chua Tia Guan.

In the Doing Business 2014 report just released, Malaysia’s “paying taxes” category showed the most significant decline in ranking – from 15 in 189 economies measured to 36 – while most other categories including “getting credit,” “dealing with construction permits” and “trading across borders” indicated impressive progress.