Malaysia's corporate and personal taxation policies have changed as a result of its $2024$ budget. For some chargeable incomes, the tax rates for small and medium$-$sized firms have been reduced. Also, the income tax rate for middle$-$class taxpayers has been reduced; nevertheless, the tax rates for wealthier incomes will rise.

Required:

Based on the above, analyze the key differences on the tax changes in the recent Malaysian Budget$2024$ in comparison to year $2023$ on individual taxpayer in Malaysia.

 

 

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The Malaysian Budget for 2024 introduces significant changes to indiv... View the full answer