Broad tax effects of an election budget

Prime Minister Datuk Seri Ismail Sabri is accompanied by Finance Minister Tengku Datuk Seri Zafrul Abdul Aziz as he arrives for the ' Consultancy Budget 2023 ' programme at at Ministry of Finance in Putrajaya. (23/8/2022) - AZHAR MAHFOF/The Star

Prime Minister Datuk Seri Ismail Sabri Yaakob recently proposed to bring forward the Malaysian National Budget 2023 (Budget 2023), originally set to be presented on Oct 28, 2022, by three weeks to Oct 7.

If this is indicative of an earlier general election, Budget 2023 will be an opportunity for the government to update its tax strategy to instil confidence.