KUALA LUMPUR, Nov 6 — The government has announced reduced rates for income tax as part of the Budget 2021 tabled in Parliament today by Finance Minister Tengku Datuk Seri Zafrul Abdul Tengku Abdul Aziz.
“The government has agreed to lower the rate for individual income tax by one percentage point for those earning taxable wages from RM50,001 to RM70,000 which is expected to benefit 1.4 million taxpayers,” said Tengu Zafrul.
The reduced income tax was part of initiatives announced by the government during the Budget aimed at lightening the burden of Malaysians amid the Covid-19 pandemic.
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