KPMG not surprised by lack of tax cuts in Budget 2021
Given that the country is currently battling a pandemic, it would have been more rational if Budget 2021’s tax rate cut and increased tax reliefs were made effective when taxpayers report their 2020 income next year, KPMG Tax Services Sdn Bhd (KPMG) said.
According to Regina Lau, Executive Director of KPMG Tax Services, it is not surprising that tax cuts are not on the table.
“Notwithstanding, there is a marginal tax cut of one per cent for the RM50,000 to RM 70,000 income band which translates into a RM200 tax saving. Minimal, nothing to shout about, but still a saving,” Lau said in a statement.
Read the full article as published in The Borneo Post Kuching.
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