Speculation and rumours often fuel uncertainty, especially when it comes to taxes and government policies.
As budget season approaches, it’s not uncommon for analysts and financial experts to make predictions about new tax measures.
However, without official confirmation, these assumptions can sometimes lead to confusion among the public.
Anthony Loke Denies Inheritance Tax Proposal
This was the case recently when reports suggested that the Malaysian government might introduce an inheritance tax as part of the 2025 Budget.
Transport Minister Anthony Loke has since stepped in to clarify the situation, firmly denying any such proposal has been discussed in cabinet meetings.
Speaking at the Federal Territories Kuala Lumpur DAP Ordinary Convention on October 13, Loke expressed concern over how quickly these rumours had spread, even among some members of parliament, reported NST.
“What’s troubling is that even some of our DAP MPs believe the government will introduce such taxes based on mere assumptions,” he stated.
Official Policies Only Confirmed in Parliament
Loke emphasised that official government policies are only confirmed once presented in parliament.
He urged the public not to trust unverified speculation from analysts, adding,
“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,” he said.
These rumours stemmed from an October 3 report by Utusan Malaysia, which suggested the government might introduce five new taxes in the upcoming budget, including an unhealthy food tax, carbon pricing tax, and inheritance tax.
However, Loke reassured the public that no official discussion on these matters has taken place.
He also underscored the government’s focus on increasing revenue and ensuring economic growth, while maintaining responsible spending practices.
