On 18 October 2024, YAB Dato' Seri Anwar Ibrahim presented the highly anticipated 2025 Budget, with strategic measures aimed at driving economic recovery, fostering sustainable growth, and enhancing social well-being. The key focus areas include:

1. Economic Resilience: Allocations to bolster SMEs, promote innovation, and accelerate digital transformation across industries are crucial.

2. Tax Incentives: Enhanced tax relief for middle-income earners, along with incentives for investments in renewable energy, green technology, and digital infrastructure.

3. Social Welfare & Healthcare: Increased funding for healthcare services and social assistance programs to support low-income households.

4. Infrastructure Development: Significant investments in national infrastructure projects to boost connectivity and create job opportunities, especially in rural areas.

5. Sustainability Initiatives: Prioritize climate action by providing incentives for businesses to adopt sustainable practices and reduce their carbon footprints.

The 2025 Budget aims to balance economic recovery with future resilience, guiding Malaysia toward sustainable growth and development.

Want to know more? Explore the full breakdown of the Malaysia 2025 Budget highlights in our Tax2share Bulletin.

to access the details and stay ahead of the latest tax updates!