IMF urges Malaysia to draw up strategies to boost low tax revenue

DEVELOPING a medium-term revenue strategy remains (MTRS) an urgent priority for Malaysia as the country’s tax revenues are the lowest among the Asean-5 and Organisation for Economic Cooperation and Development (OECD) peers and have been declining, the International Monetary Fund (IMF) said.

As of 2021, Malaysia’s tax revenues stood at about 11% of gross domestic product (GDP).