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KPMG not surprised by lack of tax cuts in Budget 2021

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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.

© 2020 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.

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