Lower corporate, personal taxes to aid economic recovery, firms say in survey


Sheridan Mahavera

Business organisations in a survey want next year’s budget to offer a tax holiday to those earning RM100,000 and below to increase the spending power of the middle-income group. – The Malaysian Insight file pic, August 6, 2020.

LOWER corporate taxes and personal tax holidays top the wish list of businesses for Budget 2021 as these would boost investment and consumption to revive the coronavirus-stricken economy, a survey showed.

In the survey held by the Associated Chinese Chambers and Commerce and Industry (ACCIM), nearly 84% firms wanted Putrajaya to reduce the corporate tax rate to 22% for large companies and 15% for small- and medium-sized enterprises.


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