Malaysian Firms Plead Against New Taxes Post-Trump Tariffs (1)

Malaysian manufacturers are urging the government to refrain from introducing additional tax burdens this year after the US announced a 24% reciprocal tariff on the Southeast Asian country, citing cost pressures.

The manufacturing sector, a major contributor to Malaysia’s tax revenue, is currently under severe cost pressures, Soh Thian Lai, president of the Federation of Malaysian Manufacturers, said in a statement on Thursday. The tariff decision “is especially troubling given Malaysia’s strong trade relationship with the US and our long-standing commitment to open and fair trade,” he said.

A planned expansion of Malaysia’s Sales and Services Tax in May ...