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TaXavvy Budget 2023 (Retabled) Edition
In this issue:
Welcome to our TaXavvy Budget (Retabled) Edition which brings you the key tax proposals of Budget 2023 as announced by the Prime Minister and Finance Minister, YAB Dato' Seri Anwar bin Ibrahim on 24 February 2023.
Highlights:
- Tax rate for individuals - Tax savings for M40 and tax increase for higher income
- Tax rate for MSMEs - Reduced tax rate for first RM150,000 chargeable income
- Special Voluntary Disclosure Programme - Full waiver of penalties
- Capital gains tax - Study on new capital gains tax on disposal of unquoted shares by companies
- Luxury goods tax - Introduction of luxury goods tax
- Restructuring of investment incentives - Tiered rate incentive based on outcome
TaXavvy is a newsletter issued by PricewaterhouseCoopers Taxation Services Sdn Bhd. While every care has been taken in compiling this newsletter, we make no representations or warranty (expressed or implied) about the accuracy, suitability, reliability or completeness of the information for any purpose. PricewaterhouseCoopers Taxation Services Sdn Bhd, its employees and agents accept no liability, and disclaim all responsibility, for the consequences of anyone acting, or refraining to act, in reliance on the information contained in this publication or for any decision based on it. Recipients should not act upon it without seeking specific professional advice tailored to your circumstances, requirements or needs.
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