A research note by CIMB Securities said the 2027 budget measures would also benefit producers of consumer staples.KUALA LUMPUR: About five million taxpayers will enjoy tax savings of up to RM1,600 each from the income tax relief provided in the 2027 federal budget, according to a research note by stockbroking firm CIMB Securities Sdn Bhd.
It said the budget delivered more generous personal income tax relief than expected, raising the basic individual tax relief from RM9,000 to RM12,000 and reducing tax rates by one percentage point for chargeable income between RM70,001 and RM150,000.
“Businesses also stand to benefit from lower corporate tax rates on micro, small and medium-sized enterprises, and expanded sales tax recovery on qualifying machinery and production inputs,” it added.
