THE government is set to increase the Sales and Services Tax to 8% from 6%, Prime Minister Anwar Ibrahim announced today.

Anwar, who is also finance minister, said the increase however would not include food, beverages and telecommunications.

“We have also expanded the scope of the taxes to include logistics, brokerages and karaoke services.

“In addition, the government is also implementing a Capital Gains Tax for all expired shares that are unlisted in local companies and the tax will be based on their clean profit at a rate of 10% beginning March 1, 2024,” he said during the tabling of Budget 2024. – October 13, 2023.