(Reuters) -Electronic Arts is laying off hundreds of workers and is canceling a Titanfall game that was in development at its Respawn Entertainment unit, Bloomberg News reported on Tuesday.
PETALING JAYA: The postponement of the expanded scope of the sales and service tax is expected to help safeguard economic stability at a time of heightened global uncertainty, say economists.
“Assuming a steady rate of revenue collection, this would amount to a loss of about RM1.6bil to RM1.8bil,” he told StarBiz. The expansion of the SST scope was announced during the tabling of Budget 2025 last year by Prime Minister Datuk Seri Anwar Ibrahim. The gazettement of the new tax changes, which was originally supposed to take place in the first quarter of this year, is now scheduled for June 1.
“The delay protects domestic consumption, which is pivotal to economic recovery. It supports overall growth momentum and shields households from the rising cost of living. Bank Muamalat Malaysia Bhd head of economics, market analysis and social finance Dr Mohd Afzanizam Abdul Rashid said the postponement of the SST scope expansion should be seen in the context of broader global developments.
Since the expansion of SST scope has been deferred, Mohd Afzanizam said the RON95 subsidy rationalisation plan is expected to go ahead as planned. “If the delay was due to the latter, it would likely extend beyond a month, possibly until after the ongoing 90-day pause, allowing businesses to better assess the impact of the tariffs,” he said.
He added that the enlarged scope includes fee-based commercial service provisions, which more often than not are not properly recorded as income revenue by the providers. This will end up becoming part of the informal economy.
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