Fawwaz Jan says this is in line with Islamic principles of wealth-sharing.
Permatang Pauh MP Fawwaz Jan said the proposed tax could be imposed on companies’ savings, some amounting to billions, as long as they remain untouched for a full year.
Fawwaz Jan said the proposed tax could be imposed on the savings of companies, some amounting to billions of ringgit, as long as they remain untouched for a full year. Corporate savings tax is ordinarily imposed on profits or earnings that a corporation sets aside and retains within the company as savings, rather than distributing them as dividends to shareholders.
Fawwaz said 30% of the collection from this corporate savings tax must specifically be channelled to the people in the form of direct cash aid to increase the purchasing power of the lower-income population.
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