Do you know? Budget 2027 considerationsAn undeveloped-land tax would be an annual charge on serviced or strategically located land that remains vacant or underdeveloped beyond a reasonable period, especially where planning permission and infrastructure already make development feasible. Rates could increase over time, with exemptions for agricultural land, conservation areas, land awaiting government approvals, genuine…
Do you know? Budget 2027 considerationsA multiple-property tax would impose an additional annual levy on people or entities owning more than a specified number or value of residential properties—for example, after a first home, or only where the combined assessed value exceeds a high threshold. It could be based on the property’s annual assessed value,…
Do you know? Budget 2027 considerationsDividend and investment-income reform would increase or redesign taxes on dividends, interest, rental income, distributions from funds and other passive investment returns. The current 2% tax on individual dividend income above RM100,000 a year and single-tier exemption framework for most dividends could be retained. Progressive rates could be introduced for…
Do you know? Budget 2027 considerationsAn inheritance tax is charged to beneficiaries on what they receive, whereas an estate tax is charged on the deceased’s estate before assets are distributed. With a high threshold, transfers between spouses and perhaps the family home could be exempted, and progressive rates could be applied to large estates. The…
Do you know? Budget 2027 considerationsCapital gains tax (CGT) applies to profits realised when an asset is sold, such as shares, businesses, land or investment funds, rather than to the full sale proceeds. CGT already applies in specific circumstances, including certain disposals of unlisted shares and foreign capital assets remitted into Malaysia, while real-property gains…
Do you know? Budget 2027 considerationsA death-benefits tax would apply to life insurance or takaful proceeds paid after the policyholder’s death, rather than taxing the policyholder during life. Ordinary protection could be exempted, for example, the first RM250,000 per beneficiary or a defined amount per family. A low progressive rate could be imposed on the…
Do you know? Open FinanceEncryption converts customer information into unreadable data while it is stored or transmitted, protecting it if communications or databases are intercepted. Tokenisation replaces sensitive information—such as an account or card number—with a substitute token, while the original value is kept in a separately protected system. Together with secure key management, access…
Do you know? Open FinanceUnder zero trust, banks assume that every user, device, application and network connection could be compromised, so access is continuously verified rather than automatically trusted. Employees, vendors and applications receive only the minimum access needed for a specific task, while sensitive systems are separated through network segmentation and privileged-access controls. Consequently,…
Do you know? Open FinanceBanks require more than a password by using combinations of passwords, device verification, biometrics, one-time codes, and authentication applications. For higher-risk actions—such as adding a beneficiary, changing contact details, or making a large transfer—banks may require transaction-specific approval, which confirms the exact amount and recipient. These controls help counter AI-generated phishing,…
Do you know? Open FinanceOpen Finance can give customers a more complete view of their financial position, enable more personalised services, simplify product comparisons, speed up loan assessments, and increase competition among financial providers. However, it also increases the importance of privacy, cybersecurity, and consent management because financial information may flow between more institutions and…