12MP to cost more, wider tax base on the cards

12MP to cost more, wider tax base on the cards - Hello loyal readers FeedGoogle, In the article you are reading this time with the title 12MP to cost more, wider tax base on the cards, We have prepared this article well for you to read and take information in it. hopefully the contents of the post Article Malaysians, what we write you can understand. Alright, happy reading.

The development expenditure for the 12th Malaysia Plan will cost RM400 billion - up 60.96 percent from the previous 11th plan.Finance Minister Tengku Zafrul Abdul Aziz said to fund this plan, the government will have to pare down debt and tax more."To ensure that there is sufficient fiscal space to fund all the development programmes under the 12MP, the government remains committed to fiscal consolidation measures based on the Medium-Term Fiscal Framework."(This is) supported by Medium-Term Revenue Strategy to broaden the country's tax base and increase the government's affordability for its debt commitment," he said."Fiscal consolidation" is the fancy term for reducing national debt levels as a proportion of gross domestic product (GDP).Zafrul explained that the government needs to temporarily increase the statutory debt limit, up from 60 perc…