RETURN OF TAXES: PENANG TO SEND OFFICIAL REQUEST TO PM ANWAR

GEORGE TOWN, June 10 (Bernama) -- Penang plans to send an official letter of request to Prime Minister Datuk Seri Anwar Ibrahim regarding the proposal to return 20 per cent of taxes collected from the state after discussions at the upcoming meeting with Menteris Besar, Chief Ministers and Premier next month.

Chief Minister Chow Kon Yeow said the proposal has already been informally conveyed to Anwar during a recent meeting.

“In the previous meeting, the Prime Minister responded positively to the request for returning 20 per cent of tax revenue to Penang. However, this does not guarantee approval. Therefore, I will engage in discussions with other Chief Ministers and Menteris Besar in July,” he said.

“The 20 per cent is subject to the (federal government’s) willingness to agree on this. If there is an agreement, we can discuss the matter further,” he told reporters after officiating the Maybank 2024 Invest ASEAN Forum 'Penang: Malaysia's High-Tech Powerhouse' at the Spice Convention Centre here today.

He expressed hope for open-mindedness from the federal government, considering the significance of numerous planned projects and initiatives requiring funding.

On May 29, Chow appealed to the Federal Government during the state assembly meeting to reconsider the tax distribution system to states by allocating 20 per cent of the tax revenue collected from the states to create opportunities for more effective development programmes and projects.

Maybank's flagship event, Invest ASEAN, will be held from today until Thursday and will feature 60 corporates from ASEAN with a total market capitalisation of US$146 billion, while attended by 145 Malaysian and foreign institutional investors with a total of US$8 trillion in assets under management.

-- BERNAMA