The Budget for 2013 was presented by the Prime Minister (also the Finance Minister) on 28 September 2012 (see Malaysia-1, News 28 September 2012). Further details and clarification of the key points of the Budget are summarized below, and are generally effective from the year of assessment 2013 unless otherwise stated: Direct taxation (a) Corporate taxation. -   Tax-free incentives and grants for new and existing pre-schools and childcare centres registered with the State Education Department, which include an income tax exemption for 5 years and industrial building allowance at 10% per year. -   Employers who provide child-care centres at...