Budget 2023 business highlights for M’sian SMEs & entrepreneurs

During Budget 2023 today (October 7), Finance Minister Tengku Datuk Seri Zafrul Abdul Aziz announced the latest and largest budget allocation in Malaysian history at RM372.3 billion. 

Here are the key takeaways from the tabling for entrepreneurs and SMEs in Malaysia.

1. Personal income tax reduction for those earning between RM50,001 to RM100,000

The tax rate for individuals making RM50,001…