Tax Insights > Budget 2024 Insights

Budget 2024 Insights

October 14, 2023 Tax Insights

The Malaysian 2024 Budget, which is themed “Madani Economy: Empowering the People”, was announced on 13 October 2023 by the Minister of Finance, Datuk Seri Anwar Ibrahim. The 2024 Budget has a total allocation of RM393.8 billion. The core focus area for the 2024 Budget is the stimulation of economic growth, while ensuring that subsidies are distributed fairly to the Rakyat, via implementation of targeted subsidies.

The Malaysian Government’s revenue collection is expected to increase from RM303.2bil this year to RM307.6bil in 2024. This target is expected to be primarily achieved by broadening the revenue base, and complemented by the introduction of tax reform measures, starting from 2024.

 

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Celine See
Tricor Services (Malaysia) Sdn Bhd
Director, Business Development

Tel: +6 03 2783 9191
Email: [email protected]

For other Tricor services, please email to [email protected] or visit to www.tricorglobal.com

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