KUALA LUMPUR: The corporate tax rate cannot be reduced while the level of national debt remains high, says Finance Minister Lim Guan Eng.
"I personally think that corporate tax should be lowered. But looking at the country's financial status now, we cannot lower corporate tax. We still have 1MDB debts to pay," he said at a special luncheon organised by the Associated Chinese Chambers of Commerce and Industry in Malaysia's (ACCCIM) on Friday (July 20).
"We could have had good news for corporate tax in the coming Budget 2019 – but Jho Low and his gang took it away," quipped Lim.
"But I can assure you, we will not let him go. No matter where he goes, we will follow him," he said.
Budget 2019 is expected be tabled in November.
The luncheon was held in conjunction with the ACCCIM annual general meeting.
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