Malaysia’s national Budget 2024 was unveiled on Friday, 13 October 2023, by Prime Minister and Finance Minister Dato’ Seri Anwar Ibrahim with a total allocation of RM393.8 billion. For businesses, some notable points include a Capital gains tax on the disposal of non-listed local companies’ shares at a rate of 10%, SST to be increased from 6% to 8%, tax incentives to attract investments in the form of tiered investment tax allowances of either 70% or 100%, and more.
Today on BizBytes we explore key points and themes relevant to businesses from Budget 2024 with Fung Mei Lin, Tax Partner and Entrepreneurial & Private Business Leader from PwC Malaysia.
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