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2021 Thought Leaders

The honourable Minister of Finance, YB Dato’ Sri Tengku Zafrul bin Tengku Abdul Aziz, tabled the 2021 Budget on 6 November 2020.

Our leaders are pleased to provide their insights into the notable tax changes announced in the 2021 Budget

Re-positioning Our Tax Incentives

In order to weather the impact of the COVID-19 pandemic to the Malaysian economy, attract new investments and create new job opportunities, the Malaysian Government has fine-tuned existing tax incentives as well as introduced several new tax incentives.

Beng Guan and his team have shared their thoughts on some of these incentives in the attached.

Tax Measures Affecting Individuals

2021 Budget has announced that the rakyat’s wellbeing remains the Government’s most important concern.  Several initiatives in alleviating the burden of rakyat have been proposed.  Yen Ping and her team provide some insights on the initiatives from a personal income tax perspective

2021 Budget – Indirect Tax Perspective

There were several key indirect tax proposals announced in the 2021 Budget, covering amongst others Sales Tax, Service Tax, Excise Duty and import license.  Sue Lynn and her team analysed the various measures from an Indirect Tax perspective.

The relevant materials can be accessed via the above links.

Should you have any questions or require further clarification, please do not hesitate to email or contact any of our Executive Directors, Directors, Associate Directors or Managers whom you are accustomed to dealing with or who are responsible for the tax affairs of your organisation.

The information contained herein is of a general nature and is not intended to address the circumstances of any particular individual or entity. Although we endeavor to provide accurate and timely information, there can be no guarantee that such information is accurate as of the date it is received or that it will continue to be accurate in the future. No one should act on such information without appropriate professional advice after a thorough examination of the particular situation.

 

Tai Lai Kok
Executive Director & Head of Tax