#Budget2024: 5-10% Tax On Luxury Items
This is not the first time Datuk Seri Anwar Ibrahim's administration has suggested a 'luxury goods tax'.
By Yap Wan Xiang — 13 Oct 2023, 04:45 PM
Prime Minister Datuk Seri Anwar Ibrahim proposed that the government will be introducing a 5 to 10% tax on luxury goods
While tabling the Budget 2024 in the parliament today, 13 October, Anwar, who is also the Finance Minister, said the new tax will be imposed on certain high-value items, such as jewellery and watches.
"However, the new tax will not be imposed on tourists, and new rules will be introduced so tourists can get refunds on those paid taxes," said the Tambun member of parliament (MP).
This is not the first time Anwar's administration has suggested a 'luxury goods tax'.
In March, Deputy Finance Minister I Datuk Seri Ahmad Maslan said the government would announce the details about the tax in June, but there was no update since then.
