Details

  • Type: Publication series
  • Date: 11/11/2013

Malaysia – New Budget Brings Some Relief for Middle- and Lower-Income Taxpayers 

KPMG in Malaysia reports that the 2014 budget proposals were presented by Malaysia’s Prime Minister on October 25, 2013. Some of the tax measures covered in this newsletter include, relief for middle-income taxpayers, changes to the obligations around submission of tax returns for employees who are subject to the Monthly Tax Deduction (MTD), changes to the Real Property Gains Tax, and the implementation of the Goods and Service Tax. These and other budget measures represent a varied menu of tax decreases and increases, but also an effort to simplify individuals’ compliance obligations in certain circumstances.
 

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