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Malaysia Presenting Revised Budget for 2023 — Orbitax Tax News & Alerts

The Prime Minister's Office of Malaysia recently issued a release confirming that the Budget for 2023 will be presented again on 24 February 2023. The budget was first presented on 7 October 2022, but the parliament was dissolved shortly after ahead of elections held in November 2022. The initial budget included several tax measures including revised tax rates for individuals and SMEs, new and extended tax incentives, and others (previous coverage). It is expected that the revised budget will maintain most of the measures originally proposed, although this is not certain. Details on the tax measures of the revised budget will be published once available.