Govt to generate RM900m extra service tax in 2024 - Deloitte

The government is expected to generate an additional service tax revenue of RM900 million in 2024.

This is following its plans to increase the service tax rate from six to eight percent, along with the widening coverage of taxable services to include logistics, brokerage, underwriting, and karaoke services in Budget 2024.

Deloitte Malaysia country tax leader Sim Kwang Gek said, however, that the immediate impact on businesses would be...