KUALA LUMPUR, Oct 11 — Budget 2025 to be tabled October 18 could see the introduction of several new taxes to raise Malaysia’s revenue and (perhaps) close the wealth...
Inheritance tax could make a comeback in Budget 2025: But what is it and why are some Malaysians for and against it?
Estate taxes are levied on a deceased person’s net property value, while inheritance taxes are imposed on the beneficiaries. Under his leadership, the government will tax gains from sales of shares under the Income Tax Act 1967. Since mostly the rich hold their wealth in shares, a capital gains tax acts doubly as a mechanism for social equitability.
In Malaysia, the debate around tax is still less developed and has not been the subject of election campaigns even when income disparity is often played up by candidates.The issue has garnered some attention after five Sarawak MPs from DAP said they will vote against the proposed inheritance tax if it is tabled in Parliament.
Estate Duty Enactment 1941 Fiscal Gap Income Distribution Estate Tax
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