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On 18 October 2024, the Prime Minister and Minister of Finance, YAB Dato' Seri Anwar Bin Ibrahim tabled the Malaysian Budget 2025 ("Budget") themed "Reinvigorating the Economy, Driving Reforms, and Prospering the People". This is the third MADANI themed Budget that aims to drive economic growth, achieve long-term fiscal sustainability and elevate the people's standard of living.
Tax revenue remains the largest contributor to the Government's revenue amounting to 76.3% of the total revenue. The Government is looking to introduce various tax measures aimed at broadening the tax revenue base and attracting high-value investments. This alert will examine some of the key tax highlights arising from the Budget and our analysis of these proposals.
Click here to access the Budget 2025 - Tax Highlights. Sze Li Jene, Legal Assistant, has contributed to this legal update.
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