KUALA LUMPUR, Oct 23 — Putrajaya has raised income taxes on the affluent, with those earning RM600,000 to RM1 million annually to be taxed at 26 per cent, while those earning RM1 million above annually will be taxed at 28 per cent, Prime Minister Datuk Seri Najib Razak said today while tabling Budget 2016.

Previously earners in the two categories were taxed at 25 per cent respectively.

No announcement of changes on corporate tax was made during the tabling of the government budget.

Next year’s Budget saw a mere RM2.5 billion increase to RM267.2 billion from this year’s RM260.7 billion.