This year is set to be a year when Malaysia fortifies its fiscal foundations to ensure the people’s wellbeing, as evidenced by the government taking serious steps to diversify its tax base to ensure stable and sustainable revenue streams.
WHAT started as a political agreement among G7 countries has shaken the international tax scene, such that even non-members of the Organization for Economic Cooperation and Development (OECD) like the Philippines can be constrained to revisit its tax laws and incentives packages.
As discussed in our alert earlier this week, the recently announced proposed reconciliation package—the Inflation Reduction Act of 2022, H.R. 5376 (the "Bill")—would impose a new 15% minimum.
As discussed in our alert earlier this week, the recently announced proposed reconciliation package the Inflation Reduction Act of 2022, H.R. 5376 (the “Bill”) would impose a new 15%.