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Malaysia's newly appointed Prime Minister Anwar Ibrahim reacts as he delivers his speech during a gathering in Kuala Lumpur, Malaysia November 24, 2022. Vincent Thian/Pool via REUTERS
Malaysia will introduce a luxury goods tax this year and look into introducing capital gains tax in line with international standards, Prime Minister Anwar Ibrahim said on Friday.
His comments come as Malaysia unveiled a scaled-back spending plan for the year despite a sharply slowing economy as Anwar focuses on narrowing the budget deficit. (Reporting by Kuala Lumpur newsroom)