fbpx
Connect with us

News

BUDGET 2023: Individual Income Tax Rate Will Be Reduced By 2%

Published

My Post 1 2022 10 07T164510.702
Source: Bernama TV | Facebook

Follow us on Facebook, Youtube, Twitter, and Instagram for the latest stories and updates daily.

In today’s announcement of the Budget 2023, Finance Minister Tengku Zafrul Aziz shared that individual income taxes will be decreased in 2023.

This comes as an assist towards to M40 community, where the individual income tax rate will be reduced by 2%.

B2023 1 1

Here’s what you need to know about this: 

  • Those with a taxable income range of RM50,001 to RM100,000 will see an income tax decrease of 2%.
  • Those with a taxable income range of RM50,001 to RM70,000, your income tax will be decreased from 13% to 11%.
  • Those with a taxable income range of RM70,001 to RM100,000, your income tax will be decreased from 21% to 19%.
  • Those with a taxable income range of RM250,001 to RM400,000, your income tax will be decreased to 25%.

Stay tuned for more updates!

 

Also read: BUDGET 2023: Here’s What You Need To Know About Bantuan Keluarga Malaysia (BKM)

My Post 1 2022 10 07T163606.297

Source: Bernama TV

Follow us on Facebook, Youtube, Twitter, and Instagram for the latest stories and updates daily.



Just In

Feat Image Israeli Feat Image Israeli
News1 hour ago

BREAKING: PDRM Arrests Israeli National at Hotel in Ampang With 6 Firearms & Around 200 Bullets

The Inspector-General of Police (IGP) Tan Sri Razarudin bin Husain in a press conference today revealed a shocking revelation, whereby...

My Post 1 2024 03 29T161744.904 My Post 1 2024 03 29T161744.904
News5 hours ago

Here is the List of 2023 Tax Reliefs That You Can Benefit From This Year!

Every year, during tax season, the government announces tax reliefs to allow the people to reduce their chargeable income, which...

Feat Image Haniff Najib Wan Ji Feat Image Haniff Najib Wan Ji
News6 hours ago

“For security purposes” – Prominent M’sian Lawyer Says Najib Deserves Different Treatment in Jail

Previously, we shared how a former Kajang Prison inmate Wan Ji claimed that former Prime Minister Datuk Seri Najib Razak...

My Post 1 2024 03 29T144007.779 My Post 1 2024 03 29T144007.779
News6 hours ago

M’sian Mum Bashed for Accusing Foreigners of Attempted Kidnapping & Allowing Her 1YO to Walk Up Spoilt Escalator

Just a couple of days ago, 2 foreign workers were arrested for allegedly attempting to kidnap a 1-year-old child at...

Feat Image Kj Padu Feat Image Kj Padu
News7 hours ago

Khairy Jamaluddin Became Victim of Identity Theft After Someone Used His IC Number to Sign Up for PADU

Registrations for the Central Database Hub (PADU) will be closed this Sunday (31 March) and it looks like the database...

Collage123 2 Collage123 2
News7 hours ago

PETRONAS Earns the Crown of the Strongest Brand in the Oil & Gas Sector Worldwide!

With billions of cars driving on roads all around the world, using petrol is a big part of daily life...

My Post 1 2024 03 29T124131.137 My Post 1 2024 03 29T124131.137
News9 hours ago

“T20 wants to go shopping 1st” – M’sians Outraged by Delay in High-Value Goods Tax

On January 1, 2024, the Malaysian government implemented the Low-Value Goods (LVG) Tax, which imposed a 10% tax on the...

Collage 1 9 Collage 1 9
News9 hours ago

Former Inmate Claims Najib Wears Regular Clothes Like He’s at Home, Prison Dept Responds

It’s been nearly 2 years since Najib Razak went to prison but rumours about his “lifestyle” in prison is still...

Announcement

Latest Videos



TRENDING TODAY