Govt will not raise corporate tax rate, may reduce in future, says Guan Eng

KUALA LUMPUR: The Government will not increase the corporate tax rate but may look into reducing it in the future, said Finance Minister Lim Guan Eng.

"The Government has no intentions to increase the corporate tax rate.

"In the future, it should be reduced but let's get our finances in order first," Lim said at the Inland Revenue Board National Tax Seminar 2018 here on Tuesday (Nov 13).

He said the current tax rate can only be reviewed when the nation's fiscal position is stronger.

"The corporate tax can be reduced from 24% but not now.

"When our fiscal position is steady and when we can see a reduction in the national debt, then we can consider reducing the corporate tax," he said.