'Foreign digital services tax ensures level playing field'
KUALA LUMPUR: The service tax on foreign digital services announced in the 2019 Budget will ensure a level playing field and foster healthier competition with local digital services players, says financial comparison website RinggitPlus.
Chief executive officer Hann Liew said the increase in taxes and duties for the gambling industry will definitely help generate additional revenue to develop the country in other aspects.
"With Pelan Tindakan Dasar Industry 4.0, the government is definitely looking forward to an innovative and highly digitised industry.
"Being one of the players in the fintech space, we are excited and ready to work closely with the government in the digital business space," he said in a statement.
He also said the Budget reflects a stringent review and renegotiation of the country's projects, commitments and finances, citing it as a habit that should be practised by consumers with their own personal finances.
"Although the government is taking the initiative to improve the standard of living of the Bottom 40 and Middle 40 groups, consumers in all segments should be more mindful of their spending habits.
"It is still essential for Malaysians to understand the importance of personal money management and how they can maximise their cash as the country continues to progress," he added. — Bernama