Biz owners angry MP idea to tax corporate savings

PETALING JAYA: Several business groups have slammed an opposition MP’s proposal for an annual corporate savings tax of 2.5% to be imposed in the name of wealth-sharing.

SME Association of Malaysia secretary-general Chin Chee Seong called the proposal ridiculous and unreasonable, as companies already faced relatively high tax rates of 15% to 24%.

He said many small and medium-sized enterprises…

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