PETALING JAYA, Oct 18 (Bernama) — Malaysia’s national 2025 Budget proposal, with a total allocation of RM421 billion, signals a serious plan to advance economic reforms that aim to expand the tax base and reduce fiscal debt.
Mr. Soh Lian Seng, Head of Tax at KPMG in Malaysia, commented on some notable areas:
The act of widening Malaysia’s tax revenue base through theimposition of a 2% Dividend Tax (starting in the year of assessment 2025) on dividend income of over RM100,000 earned by individual shareholders, is a unique idea, which is obviously targeted at the top 15% taxpayers without further burdening the other 85%.
