EPF official warns of rising expenditure and shrinking tax revenue

KUALA LUMPUR: The Malaysian government’s expenditure, particularly in healthcare and pension payments, are set to soar over the medium and long term as the country’s population ages.

The country’s revenue from income taxes, on the other hand, will decline as people move away from salaried jobs in line with Industry 4.0 and the Internet revolution, which will see more freelance opportunities arising, said EPF economies and capital markets general manager Nurhisham Hussein (pic).