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Malaysia Considering Windfall Tax and Other Measures to Fund Support Programs for COVID-19

|Proposed Changes|Malaysia
Malaysia

Malaysia's government is considering measures to increase revenue in order to fund support programs for targeted groups impacted by COVID-19. According to a Ministry of Finance release, the government is looking at a number of measures to increase revenue, including imposing a tax on stock investment proceeds as well as imposing a higher tax (windfall tax) on a one-off basis on companies that generated extraordinary profits during the COVID-19 pandemic period. Further details of the measures…

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