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IT has been over a month since Budget 2022 was announced. It was also passed at the policy stage in the Parliament on Nov 18 – which means the various measures announced in the 2022 fiscal plan will be implemented one by one, and one of them would be the controversial “prosperity tax”.
As the implementation of the “prosperity tax” mainly affects listed companies and large enterprises, the announcement on Oct 29 has led to the FBM KLCI plummeting by 33 points on the following Monday, and the market value of various stocks evaporated by approximately RM25bil.
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