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Business 28 Dec 2009 | 12:00 AM

GST presents a rich scope for planning

The proposed introduction of GST in Malaysia reminds me of my time in Britain in the 1970s when I assisted companies to implement the value added tax (VAT) and also undertook VAT compliance services. The same scenario is now scheduled to recur, this time in Malaysia. I should add that GST and VAT refer to the same consumption tax.

Business 28 Dec 2009 | 12:00 AM

Japan said Monday it's factory output up 2.6%(update)

TOKYO: Japan's factory output grew the most in six months in November as a recovery in export demand from Asia boosted production in the world's second-biggest economy.

Business 26 Dec 2009 | 12:00 AM

Japan unveils record US$1 trillion budget

TOKYO: Japan unveiled a record 92.29 trillion yen (US$1 trillion) budget Friday for the next fiscal year, reflecting the prime minister's campaign pledge to boost spending for child support and slash wasteful outlay for public works.

Business 25 Dec 2009 | 12:00 AM

Revision of property gains tax 'a perfect Christmas gift"

PETALING JAYA: The amendment to the real property gains tax (RPGT), which will be reimposed next year at 5% but now applicable only to transactions involving properties sold within five years from their purchase, is 'a perfect Christmas gift' which will lift the local property market, analysts said.

Business 25 Dec 2009 | 12:00 AM

US lifts RM400bil bailout cap for Fannie and Freddie

WASHINGTON The Obama administration says it is removing the US$400 billion financial cap it will provide to Fannie Mae and Freddie Mac to keep the mortgage giants from failing.

Business 23 Dec 2009 | 12:00 AM

Britian still limping, marches into New Year in recession

LONDON: Britain is limping into the New Year still officially in recession as its recovery from the global credit crunch lags behind the United States, the European Union and just about every other major economy.

Business 22 Dec 2009 | 12:00 AM

Raising revenue via real property gains tax

WHEN the Finance Minister introduced Budget 2010 in October, he surprised many and disappointed some with his tax measures.

Business 22 Dec 2009 | 12:00 AM

BIMB too won’t absorb credit card service tax

KUALA LUMPUR: Bank Islam Malaysia Bhd (BIMB) has announced that it will not 'cover' the proposed service tax on credit cards, saying it already has enough other incentives for its credit card customers. It is the second bank to annouce this after Malayan Banking Bhd.

Business 22 Dec 2009 | 12:00 AM

Tune Hotels to spend RM60mil to buy land, buildings

DENPASAR, Bali: Tune Hotels.com will invest RM50mil to RM60mil in land and building acquisitions from now until the first quarter of next year.

Business 21 Dec 2009 | 12:00 AM

AirAsia cost-saving may bolster bottomline

KUALA LUMPUR: The potential cost-cutting collaboration between AirAsia and Jetstar Airways is definitely welcome, said OSK Research.