Budget 2024: New taxes, additional revenue but still room for improvement

WHILE many experts flagged the unlikeliness of changes to tax relief and structures in Budget 2024, it is still disappointing to note that Prime Minister Datuk Seri Anwar Ibrahim, who is also the Finance Minister, did not take this opportunity to take bolder steps to introduce a more competitive tax structure.

We appreciate the fact that the Finance Ministry has acknowledged the need for fiscal discipline and taken the bold steps to move towards reducing the nation’s fiscal deficit progressively cognisant of the implications of any major shift in strategy.