Tax hike but 2.4 million to pay less

Precious cargo: Anwar leaving the Finance Ministry with the Budget 2023 papers for Parliament with the ministry’s two deputies, Datuk Seri Ahmad Maslan (left) and Steven Sim. — Bernama

KUALA LUMPUR: Income tax has been raised by 0.5 to 2% for those earning between RM100,000 and RM1mil annually under Budget 2023, but it will only affect some 150,000 people.

This is because taxes in the RM35,000 and RM100,000 range will be cut by 2%.