The 2021 Budget is bold and has done well to focus primarily on helping Malaysians cope with the current challenges, despite revenue constraints caused by Covid-19, corporate leaders said.
KPMG Malaysia head of tax Tai Lai Kok said the budget remained "bold and expansionary" despite the expectation that Malaysia's economy would contract by as much as 4.5 per cent this year.
"Critical areas and sectors are being addressed, fully acknowledging the pain and discomfort of Malaysians, particularly the B40 and the worst affected economic sectors like tourism and travel.
"One of the more attractive announcements in moving the country and economy towards to a faster recovery mode is the initiative to encourage the domestic production sector with the allocation of RM300 million towards driving an online trading environment for local manufacturers and traders," Tai said.
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