Budget 2023: Income Tax For Those Earning Between RM100,000 to RM1 Million a Year Increased to 2%

In today’s Parliamentary session (February 24), Prime Minister Datuk Seri Anwar Ibrahim, who is also Finance Minister, has retabled the revised Budget 2023.

In his announcement, Anwar stated that personal income tax has been reduced by 2% for those earning between RM35,000 to RM100,000 which will benefit around 2.4 million taxpayers.

Meanwhile, income tax for those earning between RM100,000 to RM1 million a year has been increased by 0.5% to 2%. Less than 150,000 people are expected to be affected by this change.

Stay tuned for more updates!

Also read: Budget 2023: Excise Duty on Liquids & Gels Containing Nicotine Used in E-Cigs & Vapes to be Implemented

RMS

This post first appeared on WORLD OF BUZZ.