(pic)“Part of this involves having a fiscal charter – an overall debt limit that would capture all the debt such as government guaranteed debt. This would indirectly help keep the country’s debt in check by instilling some discipline in government expenditure, the forum heard. The bill will include efforts to broaden the country’s tax base by taxing the shadow economy as well as improving tax compliance and administration. Johan also said no new taxes would be introduced until the country’s economy has fully recovered from the Covid-19 pandemic. Meanwhile, Maybank Investment Banking Group (Maybank IBG) said fund raising activities by the capital markets had remained strong.
