Malaysia: Government plans to reduce corporate tax rate in Budget 2017

26 October, 2016

The Budget for 2017 proposed to reduce the corporate tax for the year of assessment 2017 and 2018. As per the proposal, the reduce tax rate will be between 1 and 4 percentage points for companies with significant increase in taxable income for year of assessment 2017 and 2018. Reduce tax rate from 19% to 18% will be applicable for SMEs with taxable income up to first RM500,000.

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