As the 2024 budget takes center stage, the question remains: will it improve the economy and people's lives, or will challenges persist? What's the highlight of this budget, and how will it aid small and medium-sized enterprises?
The Prime Minister and Finance Minister, Datuk Seri Anwar, unveiled the country's largest-ever budget for the coming year, a staggering RM393.8 billion. The financial, education, and health sectors account for 42.3% of it. Adding to the excitement, a 4% to 5% GDP growth is anticipated for 2024.
For taxpayers, there's a catch: the service tax jumps from 6% to 8% and expands to include logistics, brokering, underwriting, and karaoke services. However, food, telecommunications, logistics, and vehicle parking space services still remain at 6%. The government also offers tax exemptions and financial aid
programs.
In addition to tax adjustments, the government is also providing tax exemptions and financial aid programs to help with people's living expenses.
As the 2024 budget takes center stage, the question remains: will it improve the economy and people's lives, or will challenges persist? What's the highlight of this budget, and how will it aid small and medium-sized enterprises?
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