Jomo: Reform Malaysia's Tax System to Combat Evasion

Malaysia must reform its tax system to address weaknesses that led to tax evasion losses, according to economist Jomo Kwame Sundaram.<br /><br />He said weaknesses identified in the present tax system allowed for various methods of evasion either by individuals or companies.<br /><br />"Surveys done some years ago found that half of the owners of luxury cars did not even pay income tax.<br /><br />"Of course you can be a very rich widow, you're not paying any income tax, but you can still afford your BMW or whatever cars that rich widows drive," said Jomo at a press conference on the United Nations Conference on Trade and Development report 2019 at Kenanga Research Institute's headquarters in Kuala Lumpur yesterday.