KUALA LUMPUR, Oct. 16 -- How much will you be able to save in taxes in Malaysia, based on the proposed new income tax rates and individual tax relief in Budget 2027?

But first, very quickly, take a look at how the government proposes to change the income tax rate from 2027 onwards:

The main changes include reducing the tax rate for the chargeable income band of RM70,001 to RM100,000 from 19 per cent to 18 per cent, and reducing it for the RM100,001 to RM150,000 band from 25 per cent to 24 per cent.

What it means for you in ringgit and sen

To calculate how much tax you will be paying, take your total income in 2027, and then subtract the tax reliefs you will claim, which leaves you with the "chargeable income".

Since Malaysia uses a p...