The reduction is expected to provide around 2.4 million taxpayers with added disposable income of up to RM1,300, which will benefit the M40 group, he added.
“As I have explained, the government will take a progressive approach. While the M40 group will benefit from a reduced income tax rate, we will raise the tax rate for the high-income group by 0.5 to two per cent for tax bands of over RM100,000 to RM1 million.
“Only less than 150,000 taxpayers will be affected by the higher tax rate,” he said when presenting the Budget 2023 at the Dewan Rakyat today in his capacity as Finance Minister.
Anwar said through this approach, RM900 million in government tax income reduction will go on to benefit Malaysians, especially the M40 group.– BERNAMA
Dorsett Grand Subang has appointed hospitality industry veteran Nigel Boey as its new general manager, effective Sept 1. Boey brings… Read More
By Anthony Dylan Anak Frankie Jurem I believe our national history is clearer when we understand two important dates. On… Read More
By Sarawakian Have you ever wondered whether a city can have a soul - one with memory, warmth and belonging?… Read More
By Teh Eng Hock Last week, I coordinated another community football game between residents. It has become a routine for… Read More
By Paul Yung A few weeks ago, my daughter Adelia graduated from kindergarten. One week later, she started big school.… Read More
From Sunway Metro to USJ1: The Back Alley Scandal That Exposes Subang Jaya's "Number One" Lie Subang Jaya is fast… Read More