Tax Budget 2023

How much tax rate is reduced for individual tax payer and for which chargeable income band?

• 2% & RM30,001 to RM50,000 (from 13% to 11%) and RM70,001 to RM100,000 (from 21% to 19%).

• 2% & RM50,001 to RM70,000 (from 13% to 11%) and RM85,001 to RM100,000 (from 21% to 19%).

• 2% & RM50,001 to RM70,000 (from 13% to 11%) and RM70,001 to RM100,000 (from 21% to 19%).

• 0.5% & RM50,001 to RM70,000 (from 13% to 11%) and RM85,001 to RM100,000 (from 21% to 19%).

Which chargeable income band combined and subject to a tax rate of 25%

• RM200,001 to RM350,000 and RM350,001 to RM500,000

• RM250,001 to RM400,000 and RM400,001 to RM600,000

• RM250,001 to RM350,000 and RM350,001 to RM500,000

• RM300,001 to RM500,000 and RM500,001 to RM600,000

What are the expenses included in Medical treatment expenses?

• Dental Examination and Treatment up to RM1,000

• Dental Examination ’ up to RM1,000

• Dental Treatment’ up to RM100

• Dental Examination and Treatment’ up to RM500

What are the expenses expended and included in Covid-19 detection test expenses?

• Tests conducted in Laboratories

• Covid Test Kits up to RM1,000

• Covid treatment in private hospitals

• Pharmacy medicines for covid

Which are the personal relief extended in 2023

• Medical treatment expenses

• Fees to Approved Childcare Centre & Kindergarten

• Private Retirement Scheme

• Education fees

What is exempted for women returning to work from career break?

• Income tax exemption for maximum of 10 years

• Income tax exemption for maximum of 5 years

• Income tax exemption for maximum of 12 months

• Income tax exemption for maximum of 2 years

The purpose of Tax identification number (TIN)?

• Is to be declare of income tax every year

• Is to be compulsory used for stamping of all documents and instruments

• Is to buy property and vehicles purpose

• Is to be enjoy special relief

What is the corporate income tax rate for the 1^st RM100k?

• 17%

• 15%

• 24%

• 20%

Tax incentive for rental of electric vehicle?

• Maximum rental amount for tax deduction is limited to RM50K

• Maximum rental amount for tax deduction is limited to RM300K

• Maximum rental amount for tax deduction is limited to RM100K

• Maximum rental amount for tax deduction is limited to RM150K

What is CCS?

• Carbon dioxide storage

• Carbon capture and storage

• Carbon storage technology

• Company carbon storage