Govt might introduce quota-based petrol subsidy

The government might introduce a quota-based petrol subsidy to ensure a more targeted allocation.

Khazanah Nasional Bhd Director of Research and Investment, Mohamed Ridzuan Mohamed said the MyKad would be used for identification and a certain quota or quantity allocated to avoid abuse of the subsidy by the rich.

"This is why I think the government is taking a little longer to introduce it (the new petrol subsidy structure) as it involves a lot of changes at the pump or payment systems.

"It will also involve much software changes as well," he said at the Deloitte TaxMax Seminar here today.

The annual budget seminar which attracted over 400 participants provided an indepth look at Budget 2015, transfer pricing issues, corporate tax and other areas related to tax management.