KUALA LUMPUR: The enhancements to the Sales and Service Tax (SST), effective from May 1, 2025, are expected to help generate revenue of RM51.7 billion in 2025, according to Finance Minister II Datuk Seri Dr Amir Hamzah Azizan. He said this represents an additional revenue of RM5 billion over the current SST collection forecast of RM46.7...
ISKANDAR PUTERI: Forest City will be the first location in Malaysia to offer a 0% tax rate for family offices, says Datuk Seri Amir Hamzah Azizan. The Finance Minister II added that the 0% tax rate for family offices was among a competitive package of incentives to make Forest City a magnet for international capital. “This includes...
KUALA LUMPUR: The National Fraud Portal (NFP), a technology-based platform to detect, verify and track fraudulent activities reported to the National Scam Response Centre (NSRC) has been launched. Finance Minister II Amir Hamzah Azizan said the NFP will be able to boost the country's strategy to combat online fraud by changing the NSRC process which was...
KUALA LUMPUR: The Government, through the Inland Revenue Board (LHDN), prioritises safeguarding the security of data within the MyInvois System while ensuring that implementation objectives are met comprehensively, says Datuk Seri Amir Hamzah Azizan. The Finance Minister II said the security of MyInvois is maintained through compliance with the LHDN's information and communication technology (ICT) security...
KUALA LUMPUR: Micro, small and medium enterprises (MSMEs) that are earning less than RM150,000 annually are not required to issue e-invoices, says Finance Minister II Datuk Seri Amir Hamzah Azizan (pic). “For now, traders with annual sales below RM150,000 are not required to issue e-invoices. “But the government encourages the participation of small traders in the e-invoicing...
PETALING JAYA: Finance Minister II Datuk Seri Amir Hamzah Azizan will be holding a press conference on the diesel subsidy rationalisation on Sunday (June 9). The event is scheduled to be held at 5pm at the Finance Ministry office in Putrajaya. On May 24, Amir Hamzah said that diesel subsidies cost the government RM1bil a month, while...
KUALA LUMPUR: The Employees' Provident Fund (EPF) is expected to announce the flexible account or Account 3 initiative in April, including the withdrawal mechanism and flexibility for contributors, Finance Minister II Datuk Seri Amir Hamzah Azizan said. He said Account 3 will be explained to contributors after the dividend distribution announcement this Sunday. "They (EPF) will also...
KUALA LUMPUR: There is no honeymoon for you, Datuk Seri Anwar Ibrahim tells the new Cabinet members. The Prime Minister has reminded the ministers and deputy ministers to be more purposeful and swift in their work. “This government must promptly solve the problems of the people, eradicate poverty, stimulate economic growth and ensure the country prospers," he...
PETALING JAYA: The financial wellbeing of Malaysia's ageing population has been given attention in Budget 2024. Employees Provident Fund (EPF) chief executive officer Datuk Seri Amir Hamzah Azizan said the Budget announced by Prime Minister Datuk Seri Anwar Ibrahim on Friday (Oct 13) addressed some concerns EPF raised on the long-term financial wellbeing of Malaysians. "The Budget...
