Tax overhaul under study says Zafrul

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Finance Minister delivering the 2021 budget at the Dewan Rakyat on Nov 6.KUALA LUMPUR: Existing tax incentives that are due to end this year will be extended until 2022 as the government undertakes a comprehensive study of the existing tax incentive structure, said Finance Minister Tengku Zafrul Aziz.“A comprehensive study of the existing tax incentive structure is under way to provide a competitive, transparent and more attractive tax incentive framework.“To provide space for the study to be completed, the existing tax incentives due to end this year will be extended until 2022,” he said in his budget speech today.The budget provides for an additional year for special tax rates on selected manufacturing companies that relocate their operations to Malaysia and bring in new investments.In addition, the scope of these tax incentives would be widened to companies in selected serv…