Subscribe Log InHighlights of Budget 2020 proposals* GST will not be reintroduced* New personal income band for taxable income in excess of RM2mil to be taxed at 30% from 28%. * Go-ahead for Bandar Malaysia Project which involves 486 acres at Sungai Besi after negotiating better terms for Government. For 2019, the Government is paying RM2.4 billion to service the debt interest of in 2019 and RM2.7 billion in 2020 for 1Malaysia Development Berhad (1MDB) and SRC International. * Income tax refunds amounting to RM13.6 billion have been returned to 448,000 companies and 184,000 taxpayers. * To support bumiputera entrepreneurship development, RM445mil will be allocated to improve access to financing, business premises preparation, and entrepreneurial training.

Source: The Star October 11, 2019 08:58 UTC