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.
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
