Unpacking Budget 2026 & What It Signals for Businesses

Enterprise Explores

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3d ago 42:59

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We unpack Malaysia’s 2026 National Budget and its implications for the business community with Farah Rosley, Malaysia Tax Managing Partner at Ernst & Young Tax Consultants.

The continuity in the Budget 2026 reinforces fiscal consolidation and economic resilience, with a strong focus on strengthening existing tax frameworks, targeted incentives, and continued subsidy rationalisation. Key highlights include:

A reduced fiscal deficit target of 3.5% of GDP, signaling continued fiscal discipline.
Subsidy rationalisation measures, including the capping of RON95 petrol, contributing to a total expected savings of RM15.5 billion.
Strengthened tax collection through the nationwide rollout of e-invoicing by mid-2026 and a new stamp duty self-assessment system.
A new outcome-based incentive framework for corporate tax, linking financial support to measurable outcomes like employment and technology transfer.
Key targeted incentives for businesses, including:
- An expanded RM1.5 million tax deduction on listing expenses for the energy, utility, and technology sectors.
- An accelerated capital allowance to promote domestic direct investment and digital technology adoption.
- A 10-year tax exemption for domestic sales from food security projects.
Support for regional integration through initiatives like the Johor-Singapore Special Economic Zone and the ASEAN Business Entity Framework.
A continued focus on sustainability, with enhanced green technology incentives and the impending introduction of a carbon tax.

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