Dr Veerinderjeet Singh
IT is well-documented that the tax revenue base of Malaysia is extremely narrow with around 15% of the workforce being subject to income tax and around 20% of registered companies paying income taxes.
This puts into focus the extremely narrow base from which the government tries to extract its tax revenue. Why we have a low tax revenue to gross domestic product (GDP) ratio is clear. Studies have been done before and it is clear that our tax incentives are too generous.
