2024 Budget Highlights | 2024年财政预算案重点


The government on Friday announced an RM393.8 billion expansionary Budget for 2024. The national Budget comprises RM303.8 billion in operating expenditure and RM90 billion in development expenditure.

 For Business & Individuals    企业及个人篇

1. Increase of service tax rate
With an expanded scope. The 6% rate is maintained for food and beverage services, telecommunications, car parking and logistics.

2. 10% of Capital Gain Tax from the net profit from the disposal of unlisted shares by the company from 1 March 2024.

3. 5% - 10% of high value goods tax on certain high-value goods based on the threshold value of the goods price.

4. Global Minimum Tax for companies generate global income Euro750 Million or above is expected to be implemented in 2025.

5. Mandatory e-invoice to taxpayers with annual income or sales exceeding RM100 million from 1 August 2024.

6. Encourage Tiered Reinvestment Tax in the form of an investment tax allowance of 70% or 100%.

7. RM200 million funds for Start-up under various funding and venture capital agencies.

8. A RM1.5 billion of funds from GLC and GLIC to encourage start-up companies including bumiputera SME entrepreneurs to venture into the field of HGHV

9. ECF tax incentives extended for 3 years and extended to individual investments through PLT nominee companies to support capital funding for start-up companies

10. RM25 million is allocated to i-Tekad Additional funds in matching grants with financial institutions to benefit more entrepreneurs.

11. RM1.4 billion is allocated to BSN Micro Financing to help provide business capital, purchase of equipment, premises and marketing.

12. RM720 million of special provision to encourage women and young people to venture into business.

13. RM8 billion of loan funds under BNM to support SMEs, with RM600 million especially for micro and low-income entrepreneurs.
拨款80亿令吉作为国家银行下的贷款基金,以支持中小企业。 其中6亿令吉用于协助微型企业家和低收入企业家。

14. Syarikat Jaminan Pembiayaan Perniagaan (SJPP) - RM20 billion of guarantee up to 80% SME loans, especially in green economic, technology and Halal sector.

15. RM100 million for Digitalisation and Automation for MSMEs where digitalisation grant of up to RM5,000 benefiting over 20,000 SME entrepreneurs and micro-entrepreneurs

16. RM900 million BNM Financing for Digitalisation and Automation
Encouraging SMEs to increase productivity through digitalisation and automation

17. Implementation of SHOP MALAYSIA ONLINE program
RM40 million
Encourage small traders especially in the food field to do business from home
拨款4000万令吉实施大马网上商店计划(Program Shop Malaysia Online),让专门从事食品的小商家在家中进行线上业务。

18. Empowering the role of the digital economy center in every DUN
RM25 million
To support small entrepreneurs at the community level to sell products online.

19. Franchise strengthening program to increase exports
RM 10 million
To increase expansion of franchise business to overseas markets

20. Scheme to encourage the use of electric motorcycles
Cash rebate of RM2,400 to Malaysian buyers with an annual income of RM120,000 and below

21. Individual income tax relief (EV)
Expense for EV charging facility extended to 4 years

22. Additional tax deductions related to carbon project development
To companies that make expenses on MRV-related carbon project development.

23. Subsidies, Incentives and Assistance
RM58.1 billion
Approximately 50% of the above allocation is meant to control the price of goods and services for the benefit of the people.

24. Employment opportunities
Extend the 1% Employment Opportunity Policy for the disabled to ex-convicts and elderly

25. Increase women's participation in the labor force to 60%
The tax incentive for women returning to work is extended until 31 December 2027.

26. Tax Relief on Childcare Allowance
Increased to RM3,000 from the current relief of RM2,400
托儿费税务减免,从目前的 2,400令吉 增高至3,000令吉。

27. Discount on PTPTN Loan Rates
Effective 14 October 2023 until 31 March 2024
a) 10% discount on the balance of debt in full settlement of the loan
b) 10% for payment of at least 50% of the remaining debt in one payment
c) 15% for payment by salary deduction/ scheduled direct debi

28. Excise Duty on Sugar Sweetened Beverages (SSB)
Increased from 40 sen to 50 sen per litre.

29. Stamp Duty
At a flat rate of 4% on instruments of transfer of ownership of real estate by non-citizens and foreign-owned companies except individuals who are permanent residents in Malaysia

30. Specific tax relief for purchase of sports equipment and sport activities
Expand to cover expenses for sports training fees


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