Malaysia to revamp gasoline subsidies and raise taxes in a bid to narrow deficit

Anwar to cut fuel and education subsidies for top earners under Malaysia’s Budget 2025

Larger urban households with higher incomes will be the hardest hit, say experts. Read more at straitstimes.com.

Malaysia to revamp gasoline subsidies and raise taxes in a bid to narrow deficit

Malaysia will introduce new taxes and revamp gasoline, education and healthcare subsidies next year as part of aggressive reforms to narrow the country's fiscal deficit.

Malaysia to increase sugar tax again - ChiniMandi

The government has announced plans to raise the excise duty on sugar-sweetened beverages to 90 sen per litre next year, up from the current rate of 50 sen. This increase of 40 sen, was announced by Prime Minister Datuk Seri Anwar Ibrahim during the presentation of Budget 2025 on Friday, as part of the initiative to support the “war on sugar” movement. Anwar says the government plans to gradually increase the excise duty on sugary drinks starting…

Malaysia to widen tax net and cut subsidies in 2025 as budget spending hits record

Malaysia plans to broaden its sales and services tax and reform fuel subsidies next year, as announced by Prime Minister Anwar Ibrahim. The 2025 budget includes a record $98 billion spending, aiming to reduce the fiscal deficit to 3.8% of GDP. Revenue growth is forecasted at 5.5%, while government debt is expected to remain steady at around 64% of GDP.

Malaysia unveils 2025 budget with expanded tax base and subsidy reforms

Malaysia unveils 2025 budget with expanded tax base and subsidy reformsMalaysia plans to boost spending by 33% to 421 billion ringgit in 2025. The government aims to widen its sales and services tax scope and reform fuel subsidies to narrow the fiscal deficit to 38% of GDP

Malaysia plans record budget spending in 2025 as reforms boost revenue

KUALA LUMPUR — Malaysia announced on Friday (Oct 18) record budget spending of RM421 billion (S$127.8 billion) for 2025, with the government boosting salaries and retirement funds for civil servants as it pursues further subsidy and tax reforms to bolster revenue. The government said it was on track to narrow its fiscal deficit to 3.8 per cent of gross domestic...