Budget 2025 for Malaysia will be tabled at today by finance minister and prime minister Datuk Seri Anwar Ibrahim, and this will commence at 4pm today. As with prior editions, we will be monitoring the speech for matters related to the automotive and transport sector.
Subsidy rationalisation for RON 95 petrol is highly anticipated, however it remains to be seen if changes affecting pricing will be made so soon after the rationalisation of diesel fuel subsidies, which began June 10 this year.
Also expected to be addressed is the subject of goods and services tax (GST) and it possible reintroduction, however the prime minister had said last year that there were no plans for its return in the short- and medium-term.
While previously postponed, the High Value Goods Tax (HVGT) could be introduced at this tabling, though at present the threshold, tax rate and types of goods involved have yet to be made clear. HVGT was set for introduction in May, but has been put on hold for further fine-tuning.
Likely inclusions for transport and infrastructure in Budget 2025 could be the continuation of the My50 public transport subscription passes, and allocations for road network projects. More as we monitor Budget 2025 today.
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