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Business

Inheritance tax may further dampen property market

KUALA LUMPUR: It is inappropriate to introduce the inheritance tax now despite the need for the government to widen its tax base to raise revenue, as its implementation will further dampen the property market, a real estate industry association said.

Nation

Government mulls hospitality levy

IPOH: The Government is mulling a proposal to impose a hotel fee to raise revenue and further promote the country as a tourism destination.

Business

Indonesia a haven for illegal coal miners

JAKARTA: Indonesia may be the world’s top exporter of thermal coal, but that masks an embarrassing fact for a government scrambling to raise revenue – more than US$5bil worth of the fuel is mined illegally and goes untaxed each year.

Business

Oneworld entry a boost to MAS' competitive edge

KUALA LUMPUR: The entry into the oneworld alliance will help national carrier, Malaysia Airlines (MAS), regain some competitive edge to raise revenue yield going forward, together with its ongoing fleet renewal programme.

TECH

Uganda imposes tax on social media use

Uganda's parliament has imposed a tax on the use of social media in a bid to raise revenue but opponents of the law say it aims to stifle criticism of President Yoweri Museveni, who has been in power since 1986.

World

Uganda imposes tax on social media use

KAMPALA (Reuters) - Uganda's parliament has imposed a tax on the use of social media in a bid to raise revenue but opponents of the law say it aims to stifle criticism of President Yoweri Museveni, who has been in power since 1986.

Business

Affin Hwang Research sees hike in excise duties for cigarettes

KUALA LUMPUR: There could be an increase in the excise duties on cigarettes in Malaysia under the upcoming Budget 2016, as the government seeks to raise revenue to tackle the country’s fiscal deficit, says Affin Hwang Capital Research.

Nation

Kelantan seeks logging approval

In a move to raise revenue, Kelantan will approach the Federal Government for approval to extract logs from areas more than 1,000m above sea level.

Business

Keppel gets RM725.5mil UMW-OG jack-up rig contract

PETALING JAYA: UMW Oil and Gas Corp Bhd (UMW-OG) has awarded a contract worth US$218mil (RM725.5mil) to Keppel Corp Ltd’s subsidiary to build its sixth jack-up rig to raise revenue and profit contribution from its drilling operations.

World

Obama tax blueprint opening gambit in potential tax rewrite

WASHINGTON (Reuters) - President Barack Obama on Wednesday revived a list of his favourite tax ideas, hoping to raise $580 billion (378.3 billion pounds) in new revenues from the wealthy over a decade in a potential opening gambit to forge a deal with Congress to overhaul the U.S. tax code.