Timely reminder of need to reconsider tax framework

Meanwhile, Ernst & Young Malaysia Tax Leader Amarjeet Singh (pic) says it is crucial for companies to build resilience to prepare for and respond to trigger events before options evaporate and the risk of losing control increases.

THE collapse in oil prices and the Covid-19 economic fallout, both of which have a negative impact on Malaysia’s revenue, are timely reminders of the need to reconsider the current tax framework.

According to Deloitte Malaysia country tax leader Sim Kwang Gek, (pic below) for long-term sustainability of revenue, the government has to diversify its tax base.