PETALING JAYA: The one-off special tax under the Budget 2022 (Cukai Makmur or prosperity tax) will affect bank’s earnings next year but profits will improve in 2023.
Banking analysts said the tax, which is set to be imposed on companies which make more than RM100mil in pre-tax profit for financial year 2022 (FY22) will slash profits for banks that year, but possible hikes in the overnight policy rate (OPR) will lift earnings the following year.
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