MADANI Economy: Empowering the People

1. Malaysia as the top 30 largest global economy;
2. Malaysia as the top 12 in global competitiveness;
3. Increase share of labor income to 45 percent of total income; 
4. Increase female labor force participation rate to 60 percent;
5. Malaysia as the top 25 on the Human Development Index;
6. Improve Malaysia’s position in the Corruption Perception Index to top 25;
7. Moving towards fiscal sustainability, targeting a deficit of 3 percent or lower.

In addition, the following tax measures were re-emphasized. 

• Introduction of outcome based tax incentives to support companies that focus on high-impact activities;
• Special incentives to encourage new green energy activities (e.g. Sarawak’s initiative in Carbon Capture, Utilisation and Storage);
• Reduction in stamp duty for shares traded on Bursa Malaysia which was implemented on 13 July 2023 to rejuvenate the capital market. 

• Strengthening the development of Iskandar Malaysia through the introduction of a special financial zone with incentives to be offered, including a special 15 % income tax rate to eligible knowledge workers;
• More tax incentives and special tax treatment will be offered to develop the social enterprise sector.