Malaysia mulls giving full tax exemption on emergency PRS withdrawals

KUALA LUMPUR: Malaysia is considering to provide full tax exemptions on small amounts of withdrawal from private retirement schemes (PRS) for emergency purposes, said Securities Commission Malaysia (SC) chairman Datuk Seri Awang Adek Hussin.

He said private retirement schemes play a crucial role in supplementing the public mandatory retirement scheme and in offering long-term savings flexibility.