The government has no intention of unveiling a fresh taxation system but will instead implement a fairer targeted subsidy mechanism that meets the needs of the people, according to prime minister Datuk Seri Anwar Ibrahim.
“The implementation of targeted subsidies will impact the affluent, big industries and foreign nationals while e-hailing and taxi drivers, fishermen and smallholders will all be exempted,” Anwar said after opening the International Madani Convention recently.
“The issue with the diesel subsidy is the loss of billions of ringgit where wealthy and mega industries benefited from,” he added, as reported by The Star. It was recently announced that the government will proceed with the diesel subsidy rationalisation programme which is expected to save about RM4 billion annually.
For now, it is not confirmed when the targeted fuel subsidiy programme will begin, nor has a mechanism for how the subsidies will be distributed been revealed. RON95 petrol will join diesel in the programme, although this is slated to take place sometime in the second half of this year.
The post Government has no intention to introduce new taxes – targeted subsidies better to meet needs of the people appeared first on Paul Tan’s Automotive News.
The government has no intention of unveiling a fresh taxation system but will instead implement a fairer targeted subsidy mechanism that meets the needs of the people, according to prime minister Datuk Seri Anwar Ibrahim.
The post Government has no intention to introduce new taxes – targeted subsidies better to meet needs of the people appeared first on Paul Tan’s Automotive News. Read More Paul Tan’s Automotive News