The majority of Malaysians have enjoyed a lower personal income tax burden, as tax rates have fallen from 28% in 2008 to 24% now. The Najib administration has been instrumental in ensuring that Malaysia’s personal income tax system is not regressive, by raising the minimum tax threshold to above RM4,000. This essentially means that anyone earning below the threshold will be exempted from personal income tax. The Government has also introduced a slew of tax reliefs over the years, which could result in greater tax savings for many individuals. Aside from significant tax cuts and tax reliefs, the Government has also introduced tax exemptions to raise the disposable income of Malaysians.

Source: The Star April 04, 2018 04:07 UTC