Malaysia to widen tax net, raise minimum wages in 2025 as budget spending hits record
Malaysia will introduce a slew of new taxes, cut subsidies for a widely used fuel, and raise the minimum wage from next year, Prime Minister Anwar Ibrahim said on Friday as he announced a record budget spending plan of 421 billion ringgit ($98 billion).
Malaysia to Cut Petrol Subsidy From 2025 to Slash Deficit
Malaysian Prime Minister Anwar Ibrahim is counting on petrol subsidy cuts and accelerating growth to help reduce the fiscal deficit even as he unveils his biggest annual spending plan yet on Friday. Most Read from BloombergInside the ‘Utopias’ of Mexico CityOne City’s Plan to Re-Link a Neighborhood That Robert Moses DividedCities Look to AI to Flag Residents’ Trash and Recycling MistakesChicago Should Consider Furloughs,
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The Malaysian PM said the Progressive Wage Policy, introduced in June as a pilot programme, will be fully implemented next year, backed by an RM200 million allocation aimed at benefiting 50,000 worker ...
Malaysia will reduce subsidies for its most widely-used petrol, RON95, in mid-2025 as the government seeks to narrow its ...
Malaysia will likely introduce further subsidy cuts and new taxes as part of its budget for next year, analysts and ...
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