Some of the highlights of 2017 Budget

Here are the highlights of the 2017 Budget proposals announced on Friday by Prime Minister Datuk Seri Najib Tun Razak:

Lower corporate tax

* Govt has proposed to reduce the corporate tax for the year of assessment 2017 and 2018

 * Reduce tax rate 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% for SMEs with taxable income up to first RM500,000.

 * Extend double taxation promotion on operating expenditure borne by anchor companies for the Vendor Development Programme until 31 December 2020.