The Minister in the Prime Minister’s Department (Federal Territories) stated that the city of Kuala Lumpur may impose an increase in assessment taxes next year to be implemented in phases starting with industrial tax rates.

Discussions on the matter began in early July this year as it was found that it was necessary to review taxes owing to rising costs and to boost the revenue of Kuala Lumpur to keep it level with the present times.

The ministry is not just reviewing assessment taxes but also quit rent and they have been collaborating with the finance departments of various government departments and agencies to study the matter comprehensively.

The ministry also pointed out that Kuala Lumpur City Hall (DBKL) has been running at a deficit in recent years and therefore measures need to be undertaken to increase revenue to boost its financial coffers.

While, on one hand, there is the fact that the rakyat must not be burdened, it is considered inevitable and just a matter of time before the hike in taxes are announced but at present comprehensive studies are being undertaken.

The move to impose a hike on taxes in Kuala Lumpur follows a decision by the state of Selangor to increase assessment taxes next year and the residents and people living and working in Kuala Lumpur have been advised to be prepared for this eventuality.

-THE MALAYSIA VOICE