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Malaysia 2022 Budget Tabled in Parliament Including One-Off Windfall Tax

|Proposed Changes|Malaysia
Malaysia

Malaysia's Minister of Finance tabled the Budget for 2022 in parliament on 29 October 2021. As provided in the Budget Speech 2022, one of the main tax measures is the introduction of a one-off special windfall tax to the companies that generate high income. The tax, known as "Cukai Makmur", will be charged on companies with chargeable income exceeding MYR 100 million, with the first MYR 100 mi…

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