FG Begins Six-Week Review of New Tax Laws After Business Concerns
The Federal Government has begun a six-week review of the tax laws that took effect on January 1, 2026. The review will consider implementation gaps, VAT thresholds, withholding tax, capital gains treatment and multiple taxation. Business groups have raised concerns about conflicting interpretations of the transition rules, particularly for company tax returns linked to accounting periods that ended before the new laws commenced. They say the uncertainty has delayed corporate tax filings and increased compliance costs. The technical subcommittee will also consider taxpayer protections, faster refunds, digital data sharing and measures to support small businesses and investment. Its recommendations are expected to feed into the Finance Bill 2027. I find it concerning that laws presented as major reforms are already being reviewed so soon after implementation. With fuel, electricity and other living costs already putting pressure on households and businesses, the government must ensure tax reforms are clear, fair and do not create further hardship.
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