Finance Ministry looking at options to raise revenue, reduce leakage

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PARLIAMENT | The Finance Ministry is looking at the options available in a bid to increase the country’s revenue and reduce leakage. Deputy Finance Minister II Mohd Shahar Abdullah said it recently formed a multi-agency task force to look at the leakage arising from the sale of illicit cigarettes and liquor. “The government will table in Budget 2021 the findings and actions to be taken to reduce leakage,” he said in reply to a question from Dr Lee Boon Chye (Harapan-Gopeng) at the Dewan Rakyat today. Lee had asked whether the government would consider imposing a windfall tax for industries that have made extraordinary profits amid the Covid-19 pandemic such as glove manufacturing. “The government has not made a decision on whether it will impose the windfall tax in order to boost the nation’s revenue, but the government has a broad-based policy and whatever is good from the previo…