Government won't introduce new taxes, aims for fairer subsidies: PM
Published on: Saturday, May 25, 2024
By: Bernama
For illustrative purposes only. - depositphotos
MELAKA: The government does not intend to introduce new taxation instruments but rather aims to implement a more equitable targeted subsidy system that meets the needs of the people, Prime Minister Datuk Seri Anwar Ibrahim said.
He said the recent announcement regarding targeted diesel subsidy exempts low-income groups such as fishermen, smallholders and taxi drivers from these taxes.
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“I do not wish to introduce new taxation instruments that burden the people. The issue with (current) diesel subsidy is the significant leakage, costing billions of ringgit... the wealthy and large industries still benefit from these subsidies.
“The implementation of targeted subsidies will (only) affect the wealthy, large industries and foreign nationals. Fishermen, smallholders, Grab and taxi drivers will all be exempt (from being taxed)... potentially exempting nearly a million citizens from the diesel tax,” he said.
The prime minister said this in his speech at the MADANI Convention here today, Also present was Melaka Chief Minister Datuk Seri Ab Rauf Yusoh.
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