Gov't introduces or scraps tax based on times, this isn't the first taxes removal - Amin Adam

The government is contemplating significant changes to its tax policies, with discussions focused on either introducing new taxes or abolishing existing ones. Amin Adam, the Deputy Minister of Finance, emphasized that this is not an isolated instance; it reflects a broader trend in the country’s fiscal strategy. He noted that previous administrations have also made adjustments to tax structures in response to economic conditions and public sentiment.

Adam highlighted that the current administration is committed to fostering a more conducive business environment while ensuring efficient revenue generation for national development. The government is examining various sectors and their contributions to the economy as part of this review process. He urged stakeholders to engage constructively during consultations, emphasizing the importance of balancing revenue needs with economic growth objectives. This initiative aims not only at improving compliance but also at enhancing overall taxpayer satisfaction and promoting investment. As these discussions unfold, the potential impacts on both businesses and consumers are being closely monitored by all parties involved.