Page 74 - PH Manifesto English

Promise 32: Introduce a tax system that is people-friendly and

entrepreneur-friendly

Taxation is a mechanism to help the government fund programs to

help the people. It is important for the nation's tax policy to contribute
towards a more sustainable economic development, encourage investment,

and at the same time not burden low income earners.

Pakatan Harapan will end UMNO and the Barisan Nasional’s extortion of the

people through tax. UMNO and Barisan Nasional has to resort to extortion

because they have failed to manage the country’s coffer responsibly and
prudently.

Pakatan Harapan will review the national taxation system holistically, with
the goal of making the rate of our income tax, corporate tax and other taxes,

competitive compared to other ASEAN countries. We want to share the

nation’s wealth equitably, and not allow it to be squandered by some only.

The rate of corporate tax and taxes on small business owners and part-time

employees will be reviewed with the goal of reducing the burden of them. We
will focus on small and medium-sized entrepreneurs, as SMEs contribute to

almost 40 per cent of GDP, and 97 percent of Malaysian company belong in
this category. The Pakatan Harapan Government will help increase the

income of the majority of Malaysians and expand the reach of business

owners by creating a tax system that is friendly to SMEs, online traders,
part time employees, and those working in the sharing economy.

Personal income tax rate will be reviewed so that the burden towards the
middle 40 per cent (M40) can be reduced. While those in the bottom 40

percent (B40) are already not paying income tax.

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