Taxpayers gained benefits
All taxpayers will receive cost-saving benefits through the rate announced in the Budget 2023 proposals. Further, the T20s group with income between RM200,000 – RM500,00 will also get to enjoy the benefit under the new tax rate which will commence in 2023.
According to Soh Lian Seng, Head of Tax at KPMG in Malaysia, the tax cuts introduced in the budget proposals will benefit the M40 group the most. “This government initiative has taken into account the higher cost of living, especially for the M40s,” he added.”
Read the article published in Berita Harian below: