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KUALA LUMPUR: Finance Minister Lim Guan Eng will have to strike a right balance between the cyclical need of juicing up growth at a time of heightened global uncertainties, and the structural necessity of curtailing government debt build-up, said an economist.
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%.
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.
KUALA LUMPUR: The government needs to diversify and increase its revenue resources, including widening coverage of the sales and services tax (SST) to rebuild fiscal buffers, says the World Bank Group.
KUALA LUMPUR: The government will likely present an expanded budget this Friday to temper a weak economic outlook, as it grapples with global recession fears, the protracted US-China trade war and a large debt pile left behind by its predecessors.
THE much-anticipated Budget 2020 is scheduled to be tabled on Oct 11, with the theme “Shared prosperity: Sustainable and inclusive growth towards high income economy.”
A little over a year after the implementation of the new Sales Tax and Service Tax (SST), Prime Minister Tun Dr Mahathir Mohamad has indicated that if the rakyat believe that the abolished Goods and Services Tax (GST) may benefit the country, the government will conduct a study on the possibility of reviving it.
IN less than a week, Finance Minister Lim Guan Eng will be tabling Budget 2020.
PETALING JAYA: The Goods and Services Tax (GST) regime will only work well in a developed country where the disparity of income is not wide and the nation shares a single culture and common education system, according to a taxation expert.