Budget 2023: Private Sector Invited to Provide Feedback on Tax-Related Public Consultation Paper

The Ministry of Finance (MOF) has published a Budget 2023 Public Consultation Paper (PCP) titled "The Implementation Of Globe Rules In Malaysia", related to Malaysia's involvement in the implementation of the Global Anti-Base Erosion (GloBe) Model Rules (Pillar Two) Initiative, inclusive of the Framework on Base Erosion and Profit Shifting (BEPS). The private sector, including businesses and tax experts are invited to provide feedback to the PCP, which can be downloaded via the website https://belanjawan.mof.gov.my/bajet2023/kertaskonsultasi/

The publication of the PCP complements the 2023 Pre-Budget Statement, which was published on 3 June 2022. It is also part of the MOF's overall efforts to obtain feedback from the rakyat and businesses on the Government's policy proposals that will be considered for the Budget 2023. This initiative was started in 2021 to enhance and increase public engagement in the formulation of the annual Budget.

Subsequently, the MOF plans to issue Budget 2023 PCPs on financing for sustainable development, the application of environmental, social and governance (ESG) principles for Government-linked companies (GLCs) and the implementation of targeted subsidies.

The Government is confident that the publication of the Budget 2023 PCPs will provide more avenues for all stakeholders to provide feedback to enable the Government to formulate an annual budget that meets the needs of the rakyat, as well as aligned with the country's socio-economic development policies.

The MOF welcomes feedback on this PCP before or by 15 August 2022.

Ministry of Finance
Putrajaya
1 August 2022