On 2 November 2018, the Malaysian Budget 2019 ("Budget") was unveiled by the Finance Minister, YB Tuan Lim Guan Eng. The Budget focuses on three key areas: (i) implementing institutional reforms; (ii) ensuring the socio-economic well-being of Malaysians; and (iii) fostering an entrepreneurial economy.
This is the first budget presented by the new Pakatan Harapan Government. The Budget reflects the desire to benefit the people of Malaysia and be business-friendly, whilst seeking ways to safeguard and collect revenue. We outline below the tax-related aspects of the Budget.