Budget 2023: Income tax cut by two percentage points for RM50,000-RM100,000 taxable range

KUALA LUMPUR: The personal taxation rate will be reduced by two percentage points on taxable income ranging from RM50,000 to RM100,000 for domiciled individuals.

In tabling Budget 2023 in Parliament on Friday (Oct 7), Finance Minister Tengku Datuk Seri Zafrul Abdul Aziz said for the taxable income range RM50,001 to RM70,000, the rate will be reduced from 13% to 11%.