PETALING JAYA: Those with nett chargeable income above RM20,000 will enjoy tax savings between RM300 and RM13,200 once income tax reduction kicks in next year.
The Inland Revenue Board Malaysia (IRB) corporate communications director Nor Azirah Mohd Said said currently, the first income band starts at RM1 to RM2,500.
With the 1% reduction, the first band will now be from RM1 to RM5,000, at 0% tax rate.