BUSINESS ARTICLE

Malaysia Budget 2022 – Tax highlights including extensions on current incentives and new reliefs

Malaysia Budget 2022

Malaysia Budget 2022 – Tax highlights including extensions on current incentives and new reliefs

On 29th October 2021, Malaysia’s 2022 Budget, themed “Keluarga Malaysia, Makmur Sejahtera”, was tabled by Finance Minister Tengku Datuk Seri Utama Zafrul bin Tengku Abdul with a wide range of tax incentives offered to both individuals and corporates. The expansionary budget is aimed to act as a catalyst to boost economic recovery and close the gap on the country’s fiscal deficit.

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Individual Tax Relief

Individual Tax Relief

New Corporate Tax Incentive

New Corporate Tax Incentive

New Sales & Service Tax Exemptions

Sales and Service Tax Exemptions

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