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By Karen Bong
KUCHING, Oct 13: The unity government is proposing to implement the Luxury Goods Tax at a rate from 5 to 10 per cent.
Prime Minister Datuk Seri Anwar Ibrahim said this tax will be imposed on luxury goods such as jewellery and watches based on the threshold value of the goods.
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He announced this when tabling the Budget 2024, themed ‘Madani Economy: Empowering the People’, in Parliament today.
However, in a bit to boost tourism, Anwar said tourists will be exempted from this tax, and a set of regulations will be introduced to enable them to claim tax refund before departing the country. — DayakDaily
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