Key Takeaway: Cybercrime will be included in Malaysia-Singapore cross-border crime cooperation , as the two countries prepare to renew their Memorandum of Understanding (MOU) on the matter. Malaysia’s Home Minister, Datuk Seri Saifuddin Nasution Ismail, announced that cybercrime will be a new focus in Malaysia-Singapore cross-border crime collaboration . The updated MOU will be signed on Nov 14 during Saifuddin’s meeting with Singapore’s Minister of Home Affairs and Law, K. Shanmugam. This move reflects the growing threat of cybercrime , which costs ASEAN an estimated US$64 billion annually. The agreement emphasizes capacity-building, intelligence-sharing, and joint operations as vital components for addressing cybercrime. The exchange of MOU documents will occur at the Annual Leaders' Retreat on Dec 8 in Malaysia, which will be attended by the prime ministers of both nations. Saifuddin also highlighted plans to discuss border congestion issues and will visit Singapore’s Immi
With President-elect Donald Trump pledging to eliminate federal income taxes and further reduce corporate taxes, a longstanding tax break on municipal bonds may be at risk. As Republicans near control of both the White House and Congress, lawmakers may seek alternative revenue sources to offset the significant costs of these tax cuts, and the muni bond tax exemption, worth around $40 billion annually, could be an option.
The municipal bond exemption, established in 1913, allows investors to avoid taxes on interest from bonds used by local governments to fund infrastructure, like bridges and roads. This feature has been critical for public finance, lowering borrowing costs for municipalities. If removed, state and local governments might face higher borrowing costs, potentially reducing infrastructure projects and placing more financial pressure on taxpayers.
Despite bipartisan support for the exemption, some analysts predict select sectors, like education, could see restrictions on bond sales. The Tax Cuts and Jobs Act of 2017 previously ended certain tax breaks in the muni bond market, and this latest round of cuts may bring additional limitations. However, experts believe a complete repeal is unlikely due to the modest cost of the exemption relative to the overall budget.
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