The personal income tax rate will be lowered from 17% to 15% for those in the RM35,000 to RM100,000 income band, said Finance Minister Datuk Seri Anwar Ibrahim when announcing the revised Budget 2023 on Friday (Feb 24).

However, those with higher earnings in the T20 group would incur more tax, which will be raised by 0.5% to 2%.

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