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Economist: M'sia should lower taxes to spur growth
Published:  May 10, 2017 7:53 AM
Updated: May 10, 2017 2:06 AM
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Lowering taxes to generate more government revenue may sound counter-intuitive, but according to renowned economist Dan Mitchell, this has been done elsewhere before and can be emulated by Malaysia.

Writing for Institute for Democracy and Economic Affairs' (Ideas) latest policy paper, Mitchell said Malaysia's present tax regime was "neither great nor terrible" and in fact imposes lower taxes than most regional neighbours.

At present, Malaysian businesses pay 24 percent in taxes at most while the highest amount of tax levied on individuals is 28 percent. Furthermore, consumers also pay six percent in goods and services tax...

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