Tax Budget 2023 - Individual

Prime Minister and Finance Minister Datuk Seri Anwar Ibrahim have proposed some changes to the income tax rates under the new Budget 2023.

01Key summary on tax budget 2023 for individual

• Reduction of 2% tax rates for chargeable income between RM35,001 to RM100,000
• Increase of 0.5% to 2% tax rates for chargeable income between RM100,000 to RM1million
• Stamp duty exemption from 50% to 75% for purchase of first residential home with value above RM500,000 to RM1million
• Stamp duty exemption 100% for transfer of property by way of love for first RM1 million of property value.Stamp duty exemption 50%  for transfer of property by way of love for the remaining balance above  RM1 million of property value.

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KTP (Audit, Tax, Advisory)

An approved audit firm and licensed tax firm operating under the KTP group based in Johor Bahru providing audit, tax planning, advisory and compliance services to clients

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