Budget 2023 essentials
07 Oct 2022 05:27pm
The presentation of Budget 2023 was announced by Finance Minister Tengku Datuk Seri Zafrul Abdul Aziz in Parliament which was broadcast live. - Bernama Photo
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KUALA LUMPUR - Here are the essence of Budget 2023 presented by Finance Minister Tengku Datuk Seri Zafrul Abdul Aziz in Parliament today. Budget 2023, which is themed Keluarga Malaysia, Makmur Bersama is driven by the 3Rs - Responsive, Responsible and Reformist.
Budget 2023 allocation increased to RM372.3 billion compared to RM332 billion for Budget 2022
Budget 2023 allocates RM272.3 billion for Management Spending, RM95 billion for Development, RM5 billion under the COVID-19 Fund and RM2 billion as Contingency Savings - Tengku Zafrul
The resident individual income tax rate is reduced by 2 percentage points
The tax income range of RM250,000-RM400,000 will be combined with the RM400,000-RM600,000 range and be subject to a 25 percent tax rate
The Securities Commission will introduce a special training programme for women's skill levels to increase the number of women eligible to be appointed as board members
-- MORE TO COME
