Budget 2023: Govt to Introduce Tax on Luxury Goods, GST will NOT Return Before Economy Recovers

The long-awaited Budget 2023 presentation is finally here, with Prime Minister and Minister of Finance, Dato Seri Anwar Ibrahim re-tabling the budget in the Parliament. 

PM10 revealed that the government will be introducing a tax on luxury goods sometime this year by increasing the revenue and broadening the tax base.

“This includes the luxury watches and the luxury fashionable goods,” Anwar said.

The government will also be reviewing the implementation of capital gains tax. Additionally, Anwar confirmed that GST tax will not return before the economy recovers.

Stay tuned for more updates!

Also read: PM10 Keeps His Promise, Says He WON’T Accept a Salary to “Restore the People’s Confidence”