Budget 2021: Resilient As One, Together We Triumph

On 6 November 2020, the Minister of Finance, YB Senator Tengku Dato’ Sri Zafrul Tengku Abdul Aziz delivered the Budget 2021 speech amid an unprecedented virus outbreak which has not only claimed many lives but also crippled the economy locally and globally. With the theme “Resilient As One, Together We Triumph”, this largest and expansionary budget in Malaysian history is aimed at helping the country to cope with the economic impact of COVID-19

 As a continuity of the PRIHATIN, PRIHATIN SME PLUS, PENJANA and KITA PRIHATIN stimulus packages, Budget 2021 was formulated based on Three Integral Goals: 

• First: Rakyat’s Well-Being 
• Second: Business Continuity; and 
• Third: Economic Resilience.

The three goals are subdivided into various strategies. 

This article which looks at some of the Budget 2021 proposals in the light of these goals was first published in The Tax Guardian (January 2021) by CTIM.