Budget 2023: SME taxes lowered to 15 per cent

SHAH ALAM - The government has agreed to the lowering of tax for small medium enterprise (SMEs) from 17 per cent to 15 per cent.

Prime Minister Datuk Seri Anwar Ibrahim said this was one of the important strategies to empower local entrepreneurs under Budget 2023 which he dubber the 'Madani Budget'.

“The reduced tax will save almost RM3,000 to every 150,000 SMEs taxpayers.

“The government will also allocate RM50 million to build and improvise 3,000 kiosks to facilitate the small hawkers that do business at hotspots in the whole country.

“RM176 million will also be allocated to improvise shop premises and business facilities under Mara, Kuala Lumpur Town Cityhall (DBKL), PUNB and UDA, ” he said.

Anwar today retabled Budget 2023 in Parliament.