Zafrul: Malaysia mulling new taxes once economy recovers

Tengku Datuk Seri Zafrul Abdul Aziz said: "After the economy has recovered, we really need to relook at widening our revenue base.”

KUALA LUMPUR: Malaysia’s government will pay more attention to economic sectors most affected by the pandemic such as tourism and retail, and will wait for the recovery to gain traction before considering any new taxes, the country’s finance minister said Friday.

The Finance Ministry is studying the possibility of a consumption tax, but "we have decided this is not the right time to introduce any new form of taxation, ” Tengku Datuk Seri Zafrul Abdul Aziz said in an interview with Bloomberg Television.

"After the economy has recovered, we really need to relook at widening our revenue base.”