Kuala lumpur: The Securities Commission Malaysia (SC) is finalising a licensing framework for cash trust schemes that invest in capital market products, the Ministry of Finance (MOF) said. The ministry emphasized that the SC is committed to strengthening oversight and taking decisive actions to ensure compliance with the law and to protect investors' interests.

According to BERNAMA News Agency, the MOF stated that trust companies offering cash trust schemes are registered with the Companies Commission of Malaysia (SSM) under the Trust Companies Act 1949 (Act 100) and are also subject to the Trustee Act 1949 (Act 208). This announcement was made in response to a query from Khoo Poay Tiong (PH-Kota Melaka), who inquired about the government's plans to establish a special inter-agency task force for conducting forensic investigations following defaults by cash trust scheme companies. The task force would also focus on tracing illicit fund flows and addressing tax evasion concerns.

In a separate response to Tan Sri Muhyiddin Yassin (PN-Pagoh) regarding the list of new taxes to be introduced in 2026, the MOF assured that the government has no plans to implement any new taxes next year. Instead, the focus will remain on strengthening existing tax policies and enhancing compliance measures.

The MOF also mentioned that for the year 2026, the government plans to complete tax refunds for the 2023 tax assessment year by the first quarter. It will then ensure that all refunds for the 2024 tax assessment year are fully settled by the end of the year.