Clarity on the execution of Budget 2020's investment initiatives and reformation of past incentives which are still being enforced will be necessary.
According to KPMG Malaysia executive director and head of Tax Tai Lai Kok, in terms of whether the latest Budget 2020 will spur the economy, he opined that it is not very different from some of the past budgets with allocations to various sectors.
Meanwhile, Regina Lau, Executive Director of KPMG Tax Services Sdn Bhd highlighted that clarity is crucial, especially in regards to reforming past incentives which are still being enforced.
"On reforming the past incentives which are still being enforced, I think those have to be clearer and we have prospective investors who say that on one hand, MIDA is trying to promote investments but they are facing hiccups in certain areas such as licensing by different authorities which seem to hinder t h e process. "The matter of foreign investors coming here while they have the intention to set up and it is good for some of the incentives that we have but the process is something that is hindering them from actually starting up their business here," Regina stressed.
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