Accounting
Malaysia’s Federal Debt Rises to RM1.3 Trillion While Government Pledges Fiscal Reforms
Malaysia's federal government debt increased to RM1.3 trillion by March 2025, with new fiscal reforms to ensure responsible borrowing.
Category: Accounting
Accounting
Lee Lam Thye: Act Now on Auditor-General’s Report or Risk Normalising Mismanagement
Tan Sri Lee Lam Thye urges action against financial mismanagement in Malaysia’s public sector, calling for accountability, enhanced audits, and transparency improvements.
Business News
Shopping Mall Operators Urge SST Review Amid Rising Costs
The Malaysia Shopping Malls Association urges government tax reviews to mitigate rising operational costs, ensuring sustainability and job preservation.
Accounting
Auditor General Flags Felcra, UKM, and Army Vehicle Deals for RM570m Governance Failures and Violations
The Auditor General's Report revealed significant financial misconduct in three Malaysian government entities, highlighting governance failures and procedural violations.
Business News
PH MPs Urge Selangor to Delay Parking Privatisation, Cite Public Interest Concerns
Four Pakatan Harapan MPs request delaying the Selangor parking privatisation scheme citing legal concerns and prioritizing private interests.
Business News
Malaysia’s SST on Imported Fruits Boosts Local Produce Demand
The SST on imported fruits aims to increase demand for local produce, boosting Malaysian agriculture and coffee industries.
Business News
One Year On: Starmer Trades Bold Promises for Cautious Progress as Public Patience Wears Thin
One year into office, Keir Starmer shows steady leadership but faces criticism for broken promises, diluted reforms, and slow delivery on key campaign pledges.
Economy and Business
Millionaires Flee High Taxes: UK Set to Lead Global Wealth Exodus in 2025
UK to see highest millionaire outflow in 2025 as taxes rise; wealthy prefer UAE for stability and low tax.
Business News
Trump’s Tax and Spending Bill Passes Senate After Tie-Breaking Vote
US Senate Republicans passed Trump’s tax bill with a tie-breaking vote, despite opposition, reducing social program spending and making cuts permanent.
Business News
ACCCIM Urges Postponement of Expanded SST to 2026. Reduce tax rate to 4%
The ACCCIM urges a delay in SST implementation to 2026, proposing a reduced tax rate and higher exemptions.
Accounting
Malaysian Banks to Phase In 8% Service Tax, Basic Accounts Exempt
Starting July 2025, Malaysian banks will impose an 8% service tax on fee-based financial services, excluding basic banking.
Business News
Malaysians Face Higher Fruit Prices as Import Costs Surge from July
From July 1, Malaysia faces increased imported fruit prices due to a new sales tax, rising freight costs, and higher tariffs.
Business News
SST Expansion Fuels Malaysia’s Subscription & Rental Boom
Malaysia's economy relies on strong domestic consumption, driven by subscription and rental models, amidst rising household debt and SST modifications.
Business News
Extended SST projected to increase by RM5 billion in 2025 and RM10 billion in 2026
Malaysia's Sales and Service Tax will increase significantly by 2026, targeting higher-income groups and expanding its coverage.
Business News
Muhyiddin Slams Madani Govt, Urges Cancellation of SST Expansion and TNB Tariff Hike
Tan Sri Muhyiddin Yassin urges cancellation of SST expansion, electricity tariff hike, and promotes public consultation for better governance.
Accounting
Anwar’s Hamlet Dilemma: To Tax or Not, as Malaysia Faces Reform Challenges
Prime Minister Anwar Ibrahim advocates tax reforms and subsidy rationalization in Malaysia, addressing challenges while ensuring support for the underprivileged.