The wait till Budget 2025’s announcement arose in hope and eagerness among Malaysians, anticipating allocations that can bring bountiful benefits to every party. Some had mixed reactions with its announcement, while some were happy with the new updates. That said, this is Budget 2025 in a nutshell:

“Versatility is the name of the game.” 

The 2025 Budget, under the theme 'MADANI: Reinvigorating the Economy, Driving Reforms, and Prospering the Rakyat,' aims to revitalize Malaysia's economy, implement crucial reforms, and enhance the well-being of the people, fostering a resilient and equitable nation, reflecting the core principles of MADANI. It’s an attempt at establishing a stable foundation that works towards addressing future challenges. 

Here are some major Budget 2025 highlights that are crucial for business owners: 

Tax Incentives for e-Invoice Implementation 

While there was no announcement on the postponement of the e-invoicing implementation during Budget 2025, the government has proposed that effective from YA 2024 to YA 2025, accelerated capital allowances for the purchase of ICT equipment (electronic devices / computers for data processing and communication), software, and consulting fees will be available. Hence, businesses can claim these capital allowances in full within two years, reduced from the current three years.

The mandatory timeline for the implementation of e-invoicing remains unchanged, and businesses with an annual turnover of RM150k and above are still required to implement e-invoicing as per the timeline stated in the guideline. 

2% Tax on Dividend Income 

Starting from the YA 2025, a 2% dividend tax will be imposed on individual shareholders receiving over RM100,000 in dividend income. This will affect high-earning shareholders, decreasing their post-tax returns from investments. With the addition of this tax, how can these shareholders plan their strategies for dividend income? 

Grants for Business Operations

Budget 2025 has allocated healthy amounts of grants for business owners looking to aid their current business operations. There are more than 15 grants available for businesses in Malaysia! Don’t you think this is the perfect opportunity for business owners to learn more about the grants and make good use of it for their businesses?

What’s the next step?

Knowing just these few titbits of Budget 2025 would not be sufficient to prepare you for this coming year. You must take the time to understand the Budget’s pointers and its implications. Having this foresight enables you to adapt to any possible changes that may affect your business planning! 

For this reason, YYC has organised 【YYC Tax Summit 2024】 - the DEFINITIVE tax event of the year! Designed with business owners, finance personnel, and entrepreneurs in mind, this summit aims to equip you with the knowledge and tools to navigate through the newly proposed tax landscape! 

This is your chance to kickstart your preparations for 2025 and stay ahead of the competition. Take advantage of all the first-hand information on the latest tax regulations shared by government department representatives alongside other experts and leverage them toward your business’ success!  

The event details are as follows: 
📅 Date: 13 November 2024 (Wednesday) 
🕘 Time: 9.00AM – 7.00PM 
🔊 Language: English 
📌 Venue: One World Hotel, Petaling Jaya 

(Imperial Ballroom @Level G)

Pricing:
Early Bird Price – RM998/pax
Special Price – RM498/pax (for taxPOD Subscribers and YYC Accounting, Audit & Tax Clients) 

*Breakfast and lunch will be provided during the event.
The event will be conducted physically with CPE credits and 100% HRDC claimable (T&Cs apply).
 
*Attention taxPOD Subscribers & YYC Accounting / Audit / Tax Clients!
Please contact +6011-5956 4507 (WhatsApp) for the Promo Code.

Time is ticking. Tickets are selling fast. Act now before your competitors take action!
 

Subscribe to YYC taxPOD and unlock decades of tax-saving knowledge at your fingertips. Visit https://taxpod.com.my/taxknowledge now!  

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