Budget 2024: SST increased to 8%, capital gains tax at 10% and luxury goods tax introduced

KUALA LUMPUR: A number of taxation reform measures will be implemented next year to expand the country's revenue base and at the same time not burden the majority of the people.

Prime Minister Datuk Seri Anwar Ibrahim said the tax collected by the government is one of the lowest in Asean at 11.8 per cent of gross domestic product compared to Singapore and Thailand .

"The government will also expand the scope of taxable services to include logistic services, brokerage, underwriting and karaoke," he said when presenting Budget 2024 in the Dewan Rakyat today.

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