Budget 2016: Taxing the rich more

In an effort to strengthen the tax structure to be more competitive and progressive, Prime Minister and Finance Minister Datuk Seri Najib Tun Razak proposes that the taxable income band for the highest tax rate be increased from 25% to 26% for those with an income between RM600,000 and RM1mil. He said that when tabling Budget 2016 on Friday.

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