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KUALA LUMPUR: The Malaysia's government on Friday unveiled a smaller budget than expected for next year but flagged a wider budget deficit than earlier estimates and said it would step in with stimulus measures should global demand worsen.
The Budget with its theme,"Driving growth and equitable outcomes towards shared prosperity," is the second for Pakatan Harapan since the coalition won power.
Highlights of Budget 2020
Federal Govt Budget RM297.02bil of which 45.1% will come from income tax; non-tax revenue 18.4%, borrowings 17.7%, indirect tax 15.9% and other direct tax 2.9%.
NATIONAL strategic assets would never be sold if Barisan Nasional were still the government, says Datuk Seri Najib Razak.
PETALING JAYA: A day before Budget 2020, the World Bank has recommended that the government broaden the coverage of items under the sales and service tax (SST) and expand personal income taxes, among potential measures to diversify Malaysia’s sources of revenue.
SINGAPORE (ANN): A local singer was fined $30,600 (RM93,120) on Thursday (Oct 10) for not paying goods and services tax (GST) on branded goods that she bought overseas to sell here on Instagram.
KUALA LUMPUR: Strategic assets would never be sold if Barisan Nasional was still administering the country, said former premier Datuk Seri Najib Razak.
JOHOR BARU: With Budget 2020 expected to be tabled in Parliament tomorrow by Finance Minister Lim Guan Eng, many locals are hopeful for some “goodies” to help ease their financial burdens.
KUALA LUMPUR: Standard Chartered Global Research projects a 2020 fiscal deficit of 3.2% of gross domestic product, above the government’s target to narrow the deficit to 3% from 3.4% in 2019.