Govt likely to raise RM5b from prosperity tax, tax on income from foreign sources

The government is likely to raise about RM5 billion from cukai makmur (prosperity tax) and tax to be imposed on residents in Malaysia on income derived from foreign sources, said Maybank Kim Eng (MKE).

Its regional equity research head Anand Pathmakanthan said the brokerage firm expects RM3.5 billion would be transferred from listed companies to the government from the prosperity tax, a one-off measure...