Tax Rebate 2024 Iras. As announced in budget 2024, a personal tax rebate will be granted to all tax residents for year of assessment 2024. The cit rebate reduces the amount of corporate tax the company needs to pay by 50%, up to a maximum of $40,000.

The rebate will be 50% of tax payable, capped at $200. Any unutilised credits will be refunded to the.