NEWS

Pua questions how govt can raise revenue with income tax cut

6 Nov 2020, 4:12 petang

Updated a year ago

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Damansara MP Tony Pua is puzzled as to how Putrajaya could achieve, as stated in Budget 2021, an 18 percent hike in personal income tax revenue after reducing income tax by a one percent cut for those in the RM51,000 - RM70,000 chargeable income band.

"The government is expecting to increase its revenue to RM172 billion in 2021 from RM153 billion in 2020. That's fine (with me).

"But what shocked me is a significant chunk of the projected increase in revenue is coming from personal income tax, which is from RM35.9 billion to RM42.4 billion (in 2021), which is an increase of 18 percent," he said...

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