MIDF Research: No new taxes expected in Budget 2022

MIDF Research) believes that no new taxes would be introduced in Budget 2022 due to the lingering COVID-19 pandemic.

KUALA LUMPUR: MIDF Amanah Investment Bank Bhd’s research arm (MIDF Research) believes that no new taxes would be introduced in Budget 2022 due to the lingering COVID-19 pandemic.

However, it said, the government may need to increase borrowings to finance the widening fiscal deficit, which is expected to grow to 6.5-7.0 per cent of Gross Domestic Product (GDP) in 2021 from the 6.0 per cent projected earlier this year.