TAXPAYERS can expect a reduction of between one and three percentage points in personal income tax rate for the 2015 assessment once the Goods and Services Tax (GST) is introduced on April 1 next year.
The highest taxable income band will be raised from RM100,000 to RM400,000 for the 2015 year of assessment with the maximum income rate of 26% cut to 24%, 24.5% and 25%.
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