The Ministry of Finance (MOF) is inviting the private sector, including businesses and tax experts, to provide feedback on the Budget 2023 Public Consultation Paper (PCP) titled “The Implementation Of Globe Rules In Malaysia”.

The ministry said the PCP, which was published by the MOF, is related to Malaysia’s involvement in the implementation of the Global Anti-Base Erosion (GloBe) Model Rules (Pillar Two) Initiative inclusive of the Framework on Base Erosion and Profit Shifting (BEPS).

“The PCP can be downloaded via the website at https://budget.mof.gov.my/bajet2023/kertaskonsultasi/,” it said in a statement on Monday (Aug 1).

It said the publication of the PCP complements the 2023 Pre-Budget Statement, which was published on June 3.

“It is also part of the MOF’s overall efforts to obtain feedback from the rakyat and businesses on the government’s policy proposals that will be considered for Budget 2023,” it said.

It said the initiative started in 2021 to enhance and increase public engagement in the formulation of the annual budget.

Subsequently, the ministry said it plans to issue Budget 2023 PCPs on financing for sustainable development, the application of environmental, social and governance principles for government-linked companies, and the implementation of targeted subsidies.

“The government is confident that the publication of the Budget 2023 PCPs will provide more avenues for all stakeholders to provide feedback to enable the government to formulate an annual budget that meets the needs of the rakyat as well as aligned with the country’s socio-economic development policies.

“The MOF welcomes feedback on this PCP before or by Aug 15,” it added.

• The Edge Markets