Malaysian manufacturers’ Budget 2027 wish list: Lower SME taxes, billions for tech and R&D
KUALA LUMPUR, Sept 3 — Lower taxes for small and medium enterprises (SMEs), RM1.5 billion to accelerate smart manu...
The Federation of Malaysian Manufacturers (FMM) has submitted a wish list to the Malaysian government for the upcoming Budget 2027, focusing on supporting small and medium enterprises (SMEs) and fostering technological advancements. The proposals include lowering taxes for SMEs, allocating RM1.5 billion to accelerate smart manufacturing, and establishing a RM1 billion fund for industrial research and innovation.
Additionally, the FMM suggested a tiered corporate income tax structure for qualifying SMEs, with a 15% rate on the first RM1 million of chargeable income, 17% on the next RM1 million, and 24% on income beyond that. The proposed Smart Manufacturing Support Package aims to drive automation, manufacturing digitalisation, and artificial intelligence adoption over the next three years.
Brief written by urgent.news from Malay Mail's own syndicated text. Machine-written — may contain errors; check the original before relying on it.
