Malaysia to slash income tax and lift wage floors in pre‑election budget

Anwar seeks to help households and smaller businesses in 2027 budget

Malaysia’s Prime Minister Anwar Ibrahim holds the 2027 national budget document at the Finance Ministry building as he departs for parliament to table the budget, in Putrajaya, on Oct. 9. © Reuters

NORMAN GOH

October 9, 2026 16:45 JST

Updated on October 9, 2026 20:22 JST

KUALA LUMPUR – Malaysia will reduce income tax rates for individuals and small enterprises in the 2027 fiscal year, Prime Minister Anwar Ibrahim announced on Friday, aiming to alleviate living‑cost pressures before the upcoming general election.

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