Malaysia's Budget 2024 will be broadcasted live today at 4pm. Here's what to expect and where you can watch it.
Malaysia’s Budget 2024 will be broadcast live today at 4 pm. Prime Minister Dato’ Seri Anwar Ibrahim, who is also the Minister of Finance, is expected to present his first full budget after forming the new unity government last year.Budget 2024 is based on the MADANI Economic framework that is the main focus of the unity government to ensure the needs and of the rakyat is taken care of while driving the growth of the country’s economy2023.
In the tech sector, we saw the commitment to accelerate the Jendela infrastructure project for better network connectivity. RM725 million was also allocated to implement digital connectivity in 47 industrial areas and nearly 3,700 schools. There is also a 100% statutory income tax exemption for manufacturers of EV chargers from 2023 to 2032 and a 100% allowance on investment tax for five years. Lastly, there are tax breaks for companies leasing EVs, with the lease not exceeding RM300,000.We are expected to see an increase in budget allocation for 2024. Additionally, Dato’ Seri Anwar also said that he further clarity on the government’s proposed targeted subsidies, taxation and strategies to increase the government’s revenue.
The Minister of Investment, Trade, and Industry, Tengku Zafrul Tengku Abdul Aziz meanwhile hinted that Budget 2024the opening of the Tesla Centre Cyberjaya“…and as we look to the future, the Budget is coming, second week of this month, and our focus remains on inclusivity, aligning with the MADANI Economy Framework.
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