KUALA LUMPUR: CGS-CIMB is taking a positive view of the tax exemption on foreign-sourced dividends for corporates as it would reduce the earnings risks for companies with large overseas investments. In a note, the firm said that it had been concerned about the government’s earlier decision to withdraw the tax exemption on foreign source income (FSI) for corporates in Budget 2022, as the change will permanently affect future income streams from overseas investments. "This is positive for Sime Darby, Sime Darby Plantations, PPB Group and KLK, based on initial assessments,” it added. Ministry of Finance (MoF) has extended the tax exemption on FSI of individuals and dividend income from corporates for five years from Jan 1, 2022 to Dec 31, 2026. - BernamaArticle type: metered User Type: anonymous web User Status: Campaign ID: 46 Cxense type: free User access status: 3Join our Telegram channel to get our Evening Alerts and breaking news highlights

Source: The Star January 03, 2022 12:06 UTC