Budget 2018 unlikely to raise taxes on people – Finance Minister II

The government is expected not to increase existing taxes on the people in the upcoming 2018 Budget, said Second Finance Minister Datuk Seri Johari Abdul Ghani.

“We (the government) have no intention to further impose tax on the people.

“Cukuplah itu buat masa ini (enough of what we have now). We know that the people are also having a lot of pressure.

“I believe that Prime Minister Datuk Seri Najib Razak will look into how we can mitigate the cost of living this time.

“We will also look into increasing our revenues as well,” he told reporters after the launch of GetCover app here today.

Johari was commenting on whether there would be better budget especially for Below 40 income group (B40) in the 2018 Budget, which is scheduled to be tabled on Oct 27.

“But, looking at our economic growth of 5.6 and 5.8 per cent in the first and second quarters of the year respectively, total trade of RM1.5 trillion and gross domestic product at RM1.3 trillion, our fundamental is good for the economy.

“Just that, there are a lot of other factors that we have to be careful, especially on geopolitical tension in the North Korea, which will create a lot of uncertainty to the economy particularly in our region,” he said.