Finance Bill (No. 2) 2023 Tabled For First Reading In Parliament

Deputy Finance Minister II Steven Sim Chee Keong

KUALA LUMPUR, Nov 7 (Bernama) -- The Finance Bill (No. 2) 2023 was tabled for the first reading in the Dewan Rakyat today.

Deputy Finance Minister II Steven Sim Chee Keong who tabled the bill said the second reading was also scheduled to take place this session..

According to a document posted on Parliament's website, the bill, among other things, aims to amend the Income Tax Act 1967 (Act 53); Real Estate Gains Tax Act 1976 (Act 169); Stamp Act 1949 (Act 378); Petroleum (Income Tax) Act 1967 (Act 543); Labuan Business Activity Tax Act 1990 (Act 445); and the Entertainment Duties Act 1953 (Act 103)..

It also aims to amend the Customs Act 1967 (Act 235); Excise Act 1976 (Act 176); Goods Vehicle Levy Act 1983 (Act 294); Extraordinary Profits Levy Act 1998 (Act 592); Tourism Tax Act 2017 (Act 791); Sales Tax Act 2018 (Act 806); Service Tax Act 2018 (Act 807) and Clearance Levy Act 2019 (Act 813)..

The bill contains a total of 97 amendments to the acts mentioned..

For the record, the Dewan Rakyat has approved Finance Bill 2023 to enforce tax measures in addition to implementing the government's decision regarding the improvement of tax administration on April 3..

The third sitting of the second term of the 15th Parliament takes place from Oct 8 to Nov 30..