Loke dismisses claims Putrajaya plans to introduce inheritance tax in Budget 2025

Oct 14, 2024

KUALA LUMPUR (Oct 14): Transport Minister Anthony Loke (pictured) has dismissed claims that the government is planning to introduce inheritance tax in Budget 2025 scheduled to be tabled on Friday (Oct 18).
Loke said he had never heard of such a proposal in cabinet meetings, stated a number of reports.
Loke, who is also DAP secretary general, was speaking to delegates at the party’s Federal Territories chapter’s convention here and revealed that the tax was never discussed in Cabinet meetings, reported the Malay Mail.
“There is this rumour, that supposedly several taxes will be introduced, and one of them is inheritance tax.
“This is just an assumption. But people actually believe it. Even some DAP lawmakers believe it,” the daily reported Loke saying.
“Government policies only become official if they are presented in parliament, and so far, there has been no discussion regarding inheritance tax.
“Therefore, do not trust these assumptions, as analysts can make all sorts of assumptions,” the New Straits Times reported Loke saying.
Loke explained that the decision-makers responsible for establishing policies are the government and the Cabinet, and these must be ratified by members of Parliament, not analysts from banks.
“The government is taking measures to ensure an increase in revenue and economic growth.
“At the same time, expenditures must be prudent, with no leakages or corruption involved. That is the government’s focus,” he said.
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Source: EdgeProp.my