CONTRARY to the one-off prosperity tax announced in the last budget that shocked local corporates, Budget 2023 is perceived to be generally neutral, although it benefits the construction sector. The heads of research The Edge spoke to generally expect a muted impact from this “election budget”. “The absence of the prosperity tax is very good for corporate earnings. Bursa Malaysia chairman Tan Sri Abdul Wahid Omar concurs, noting the absence of the prosperity tax in Budget 2023. Nonetheless, Wan says there isn’t much for Corporate Malaysia in Budget 2023.

Source: The Edge Markets October 20, 2022 12:24 UTC