Needed: A Budget for Uncertain Times

1000

In this cover story, KPMG Tax Services Sdn Bhd, Corporate Tax Executive Director, Lim Wai Yin added her anticipations for the upcoming Budget, calling for the government to enhance public service delivery to ensure that every ringgit disbursed from the budget is utilized efficiently, with minimum wastage and leakage.

As for the likelihood of a widening of the income tax bracket for individuals or a reduction in income tax for individuals or a reduction in income tax for individuals and corporates, KPMG’s Lim says that a reduction in income tax rates for SMEs- by way of a direct rate cut or tax rebate – would be beneficial as Penjana’s provision of a tax rebate of up to RM 20,000 for SMEs currently limited to newly established businesses.


Additionally, Wai Yin also submitted her budget wish list being government to reintroduce previous group relief regime.

Read the full article here published by The Edge

© 2022 KPMG PLT, a limited liability partnership established under Malaysian law and a member firm of the KPMG network of independent member firms affiliated with KPMG International Cooperative ("KPMG International"), a Swiss entity. All rights reserved.

KPMG International Cooperative (“KPMG International”) is a Swiss entity.  Member firms of the KPMG network of independent firms are affiliated with KPMG International. KPMG International provides no client services. No member firm has any authority to obligate or bind KPMG International or any other member firm vis-à-vis third parties, nor does KPMG International have any such authority to obligate or bind any member firm.

Connect with us

 

Want to do business with KPMG?

 

loading image Request for proposal