Tax Measures Impacting Businesses in Malaysia for 2021
Tax Measures Impacting Businesses in Malaysia for 2021 February 22, 2021 Posted by ASEAN Briefing Written by Ayman Falak Medina Reading Time: 5 minutes
Malaysia’s government has issued several tax measures in its national budget that will impact businesses in 2021.
These tax measures are related to the extension of incentives introduced last year to mitigate the economic impact caused by the pandemic.
Malaysia’s government issued a variety of tax measures in its latest national budget that will impact businesses in 2021.
More than 322 billion ringgit (US$79.6 billion) has been allocated for Budget 2021, or 20 percent of GDP, the largest allocation in Malaysia’s history. The tax measures in the budget relate to the extension of incentives, such as tax holidays provided in the stimulus packages introduced throughout 2020 – namely the 2020 Economic Stimulus