The Minister of Finance announced the national budget for year 2023 on 7-October-2022. Many Malaysians are often attracted to the budget announcement as these contain proposals that could impact them financially.
Many Malaysians will hear good news like various financial assistance to be distributed to eligible groups. Others will pay attention to tax proposals and wonder how these tax changes to come will be relevant to them.
Not all tax proposals are relevant to individuals and small enterprises (usually referring to the Sdn Bhd and Limited Liability Partnership that has paid up capital of not exceeding RM2.5m). If you belong to this category, we would like to summarise the most relevant tax proposals to you through our infographics below:
