On 7 October 2022, Malaysia’s Minister of Finance, YB Senator Tengku Dato’ Sri Zafrul Tengku Abdul Aziz, unveiled the Malaysian Budget 2023, themed “Keluarga Malaysia, Makmur Bersama”. This infographic sets out the key tax highlights from the Budget 2023 announcement. However, since the Budget 2023 was announced, the Malaysian Parliament has been dissolved on 10 October 2022 for the current term and a general election will be called shortly. As such, the Budget 2023 will likely need to be re-tabled before the Malaysian Parliament after the general election has concluded and the proposals may be subject to change.
Click here to access Budget 2023 – Tax highlights.
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Yvonne Beh is a partner in the Tax, Trade and Wealth Management Practice Group of Wong & Partners. She has been advising on Malaysian tax laws and legal issues relating to corporate and commercial matters in Malaysia for over 15 years.
Chambers Asia Pacific ranked her as a Band 3 practitioner for Tax in 2021, having previously listed her as Up and Coming in 2020. In the Chambers guide, clients commend her for having "a deep knowledge base" and is "responsive and available." Yvonne is further recognized as a Highly Regarded practitioner by the International Tax Review's Women in Tax Leaders guide and Indirect Tax Leaders guide. Yvonne won the Euromoney Asia Women in Business Law Awards for the Tax category in 2015 and 2017. She was also recognised in the Asian Legal Business’ 40 under 40 list of leaders in 2016.
She is a frequent speaker at both domestic and international tax conferences and regularly contributes to the Bloomberg BNA’s Asia Pacific Focus Tax Planning newsletter, the VAT Navigator, as well as the Asia Pacific Tax Bulletin published by the International Bureau of Fiscal Documentation.
Adeline Wong heads the Tax, Trade and Wealth Management Practice Group of Wong & Partners and the Tax and Trade Practice Group of Baker McKenzie member firms in the Joint Asian Offices. She has over 30 years of experience in the area of corporate tax planning, advisory, audit and investigation work.
Adeline won the Euromoney Asia Women in Business Law Awards for the Tax category in 2013, 2018 and 2020. Her practice was named the Tax and Trusts Law Firm of the Year by the Asian Legal Business Malaysia Law Awards in both 2020 and 2021. She is ranked as a Band 1 practitioner by Chambers Asia Pacific for Tax and by the Chambers High Net Worth Guide for Private Wealth Law. Clients commend her as "a leading tax lawyer" and a "standout name in the private wealth market in Malaysia" in the Chambers guides. She is also listed as a Leading Individual by Legal 500 Asia Pacific and as an Elite Practitioner by Asialaw Profiles for Tax. The International Tax Review also ranks Adeline as a Highly Regarded practitioner among its Tax Controversy, Indirect Tax and Women in Tax Leaders Guides.
She has presented in both domestic and international tax conferences, including conferences organised by the Tax Executive Institute in the US, Society of Trust and Estate Practitioners in Singapore and Bloomberg BNA's Global Transfer Pricing Conference in Shanghai. She is also a regular contributor to established publications on tax-related legislation and developments in Malaysia, such as Bloomberg BNA and the International Bureau of Fiscal Documentation.
