KUALA LUMPUR, Oct 13 — Putrajaya is increasing the Service Tax from 6 per cent to 8 per cent.

Prime Minister Datuk Seri Anwar Ibrahim said this increase will not include food and beverages or any telecommunications.

"We have also expanded the scope of the taxes to include logistics, brokerages and karaoke services.

"In addition, the government is also implementing a Capital Gains Tax (CGT) for all disposal of shares that are unlisted in local companies and the tax will be based on their net profit at a rate of 10 per cent beginning March 1, 2024.

"The government is also considering exemptions on CGT for the disposal of unlisted shares for an approved initial public offering,” Anwar said during the tabling of Budget 2024 today.

In addition, Anwar also said that the government is also formulating laws for the Luxury Goods Tax from 5 per cent to 10 per cent.

* A previous version of this story contained an error which has since been corrected.