Malaysia
Minister: Credit system for sales tax deductions to be introduced
A stack of shipping containers stands in a holding facility at Port Botany in Sydney in this May 3, 2011 file photo. u00e2u20acu201d Reuters pic

KUALA LUMPUR, Nov 2 — The government will introduce a credit system for sales tax deductions from January 1 next year, said Finance Minister Lim Guan Eng.

"This will ease the burden of registered small manufacturers that purchase manufacturing inputs from importers and not from registered manufacturers,” he said when tabling the 2019 Budget in the Dewan Rakyat today.

Lim also said the credit system would also be able to avoid double taxation and reduce business costs. — Bernama

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