KUALA LUMPUR: The government is expected to implement a global minimum tax in 2025.
Announcing this today, Prime Minister Datuk Seri Anwar Ibrahim said this would only apply to companies with a global income of at least €750 million.
Speaking at the tabling of the 2024 Budget in the Dewan Rakyat, he said the government will also continue to monitor the development of the global minimum tax at the international level.
"Malaysia needs to keep pace with international taxation standards, especially in curbing tax base erosion activities and transferring profits to countries with low tax rates," he said.