KUALA LUMPUR, Oct 9 (Bernama) -- The individual tax relief limit has been increased to RM12,000 from RM9,000, which has not been reviewed since 2010, benefiting the middle-income group (M40), said Prime Minister Datuk Seri Anwar Ibrahim.
Business : Good News For M40, Tax Relief Increased To RM12,000
Anwar, Budget 2027, tax, M40, economy
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Key takeaways
Malaysia increased individual tax relief to RM12,000 and reduced tax rates for middle-income earners, benefiting the M40 group.
- Tax relief limit raised from RM9,000 to RM12,000, effective for middle-income earners.
- Tax rates for income between RM70,000 to RM150,000 were reduced to 18% and 24% respectively.
- Expanded tax reliefs include medical care, sports equipment, tuition, and AI subscriptions.
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- Bernama Business : Good News For M40, Tax Relief Increased To RM12,000 (this story)
