The first budget under the 13th Malaysia Plan, themed ‘The Fourth Madani Budget: The People’s Budget’, was tabled in Parliament on 10 October 2025. Here’s our analysis of how it will impact you and your business.
Budget 2026
The economy at a glance
This year’s budget focuses on advancing long-term reforms and tackling near-term challenges to sustain growth and resilience, in line with the 4.5%–5.5% annual growth target, as set out in 13th Malaysia Plan (13MP), from 2026 to 2030.
Accelerating growth in high-growth, high-value (HGHV) and strategic sectors
Strategic sectors
RM2.7 bn northern border growth hub
Bukit Kayu Hitam is rising as a key ASEAN gateway, linking regional supply chains and digital ecosystems
Empowering local entrepreneurs
Government loans and guarantees for entrepreneurs to increase by 20% to RM50 bn
RM600 mn in rubber research
The Malaysian Rubber Board will set up a research excellence centre to chart the industry's future
Sustainability agenda
Adoption of carbon tax
Carbon tax will come into effect next year to drive low-emission technology adoption for the iron, steel, and energy sectors
Tax relief for green appliances
RM2,500 income tax relief now cover food waste grinders to promote greener behaviours
PwC Centre Stage: Budget 2026 overview
Our views in the media
- Pre-Budget
- Post-Budget
Pre-Budget
- Tax reform as a catalyst for corporate competitiveness (Astro AWANI)
- No new taxes anticipated, tax reliefs on the horizon (The Edge)
- Amplifying growth through tax reform: Budget 2026 and the fund management industry (The Edge)
- Why human rights matter for businesses (The Star)
- Tax strategy, incentives and global competition (Astro AWANI)
- Future-proofing the personal tax system (The Star)
- A rakyat-focused blueprint for inclusive growth (The Star)
- Experts call for broader tax base and smarter incentives for Budget 2026 (The Malaysian Reserve)
Post-Budget
- PwC’s statement: Budget 2026
- Budget 2026: The Devil is in the Details (BFM 89.9)
- Expert insights on the recent tax-related announcements from Budget 2026 (Bernama TV)
- Budget 2026: should support BNM’S inflation control, avoid excess strain on economy - PwC Malaysia (Bernama TV)
- Navigating stamp duty complexity: The road ahead for businesses (NST)
- Malaysia PM Anwar unveils record US$111.4 billion Budget 2026 (CNA)
- Malaysia PM Anwar’s 2026 Budget balances growth and fiscal restraint (The Business Times)
- Business chamber calls for more incentives to ward off tariff impact (Free Malaysia Today)
- SST’s 2025 Expansion, Grey Zones, & Exemptions (BFM 89.9)
- A consolidation budget for smarter enforcement (The Edge)
- Pasca belanjawan: Tumpuan cukai dan kesejahteraan rakyat (RTM)
- Malaysia’s AI journey: Raising our brand as a regional AI leader (The Star)
- Sustainability in uncertain times (The Star)
Budget 2026 blogs
Budget 2026 Seminar: Kuala Lumpur session
Join us this 30 October to understand how the government’s reform agenda could impact you and your organisation—and gain direct insights from PwC specialists and guest panellists from the Ministry of Finance and Inland Revenue Board of Malaysia.
Tiny mic, big takes
Our tax professionals share their expectations on key issues that concern all Malaysians—no filler, all under 90 seconds.
Malaysian Tax Booklet
A quick reference guide to help you access essential tax information quickly and reclaim your time for strategic planning. Information is based on tax laws, current practices, and measures proposed by the authorities.
Tax in Motion
The Tax in Motion newsletter (previously 'TaXavvy') delivers timely updates on developments in tax laws, cases, guides, administrative practices, and regulatory changes—directly in your inbox.
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