Leaders from the banking fraternity are encouraged that the government has again prioritised the rakyat’s well-being as a key focus pillar when formulating Budget 2022.

Bankers laud inclusive Budget 2022 that prioritises rakyat's well-being while spurring post-pandemic recovery

KUALA LUMPUR (Oct 27): Pakatan Harapan (PH) has proposed 12 key strategies for Budget 2022, including an immediate injection of the RM45 billion Covid Fund as agreed in the memorandum of understanding between the opposition coalition and the government.

PH proposes 12 strategies for Budget 2022, including RM45 bil Covid fund

KUALA LUMPUR (Oct 29): The Employees Provident Fund (EPF) supports the government’s measures tabled in Budget 2022, which it sees as conducive towards fostering economic recovery, improving livelihoods, as well as spurring employment — all of which will pave the way for Malaysians to rebuild their retirement fund.

EPF: Budget 2022 measures to spur economic recovery the key to rebuilding retirement savings

KUALA LUMPUR (Oct 29): A one-off additional company income tax was announced in Budget 2022, whereby earnings above the RM100 million mark will be taxed at a rate of 33%, instead of 24% for the first RM100 million.

Prosperity tax of 33%, property gains tax exemption among Budget 2022 tax measures

KUALA LUMPUR (Oct 29): Tune Protect Group Bhd has applauded Budget 2022 for not only maintaining the Perlindungan Tenang Voucher (PTV), but increasing the value to RM75 from RM50 currently for the Bottom 40% (B40) income group.

Tune Protect lauds move to increase Perlindungan Tenang Voucher to RM75

KUALA LUMPUR (Oct 28): After almost two years battling the pandemic, many small businesses are tired, frustrated and at the end of their tether. What do they expect from the present budget?

Here is a selection of wishlists from various businesspeople and the heads of government agencies:

Budget 2022: What’s on your wishlist?

The one-off corporate tax of 33% to be levied on companies with chargeable income of more than RM100 million is likely to be the Budget 2022 proposal that would have the biggest financial impact on the insurance and takaful industry, said Deloitte Malaysia.

After looking at the tax measures proposed in Budget 2022 and Finance Bill 2021, Deloitte Malaysia said the one-off tax would have an impact on the insurance and takaful sector from both a fiscal and operational perspective.

Cukai Makmur will be the Budget 2022 proposal that will impact the insurance industry most — Deloitte Malaysia

KUALA LUMPUR (Nov 3): Investors should expect dividend suppression after the government unveiled the one-off "Cukai Makmur (prosperity tax) in the recently announced Budget 2022, according to Maybank head of Malaysia and regional equity research Anand Pathmakanthan.

Dividend suppression seen with prosperity tax in Budget 2022 — Maybank Investment

Malaysia's plantation sector, which is the most highly taxed sector in the country, is likely to be subjected to the recently-announced "Cukai Makmur" (prosperity tax) under Budget 2022, according to Maybank Kim Eng's head of regional equity research Anand Pathmakanthan.

Highly-taxed plantation sector unlikely spared from Cukai Makmur, says Maybank

Maybank Kim Eng has applauded the government’s decision to give full exemption of import duty, excise duty, as well as sales tax for electric vehicles (EVs) as it seeks to support the local EV industry, according to its head regional equity research Anand Pathmakanthan.

Maybank lauds govt decision on EV incentives in Budget 2022

The national budget should not be designed to give short-term boosts to the local bourse but it should be seen as the enabler for the economy to grow, whether in the short, medium or longer term, according to Member of Parliament for Damansara Tony Pua.

National budget should be seen as enabler of economic growth, says Tony Pua

Malaysia’s Budget 2022 brings a ray of hope for Bursa-listed companies that were affected by the Covid-19 pandemic as viable candidates may receive financial support from the government in the form of equity injection.

Finance Minister Tengku Datuk Seri Zafrul Aziz said in his 2022 Budget speech last Friday that a government-owned special purpose vehicle (SPV) will be set up to support companies through equity injection or other related instruments.

Which companies need Khazanah's RM3 bil help?

Investors' fear of a surprise corporate taxation came true when Finance Minister Datuk Seri Tengku Zafrul Abdul Aziz announced a one-off 33% "Cukai Makmur" (Prosperity Tax) on companies with chargeable income over RM100 million for the assessment year of 2022.

These companies may be subject to the one-off 33% prosperity tax

KUALA LUMPUR (Nov 1): Veteran tax expert Dr Veerinderjeet Singh said he is surprised that the government has moved so fast to propose the removal of tax exemption for foreign sources of income.

Describing it as a knee-jerk reaction, he said: “I would like to encourage the team at the Finance Ministry to reconsider this particular point on the removal of the exemption on the foreign source income.”

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