MALAYSIA BUDGET 2013 TAX SUMMARY AND PROPOSALS

Tax Budget 2013Budget 2013: Driving Transformation Towards A Developed Nation

 

Pre-Budget 2013


Second RM500 BR1M in Budget 2013? 

(1 September 2012)

The government will announce a second round of RM500 cash (BR1M) handouts to underprivileged households under Malaysia Budget 2013, in a move that is expected to boost the ratings of Prime Minister Datuk Seri Najib Razak and his Barisan Nasional (BN) coalition ahead of the general election expected to be called early next year.

“The second BR1M will be paid out as part of the Tax Budget 2013,” a government source told The Malaysian Insider.


Malaysia Budget 2013: An Election Budget 

(30 August 2012)

The upcoming Malaysia Budget 2013 announcement will likely be an election budget with sweeteners such as pay rises for civil servants, said an economist.

“The Malaysia Budget 2013 will be announced in September and I suspect the election will be called soon after”, Economist Corporate Network (ECN) Chief Economist for South and South-East Asia Justin Wood said at a briefing hosted by Philip Morris (M) Sdn Bhd yesterday.


More Policies To Control House Prices And Reduce Speculation 

(29 August 2012)

Tax Budget 2013 will see more measures to control the soaring prices of property, including tighter fiscal policies to curb speculation.

Housing and Local Government Minister Datuk Seri Chor Chee Heung said most Malaysians felt today’s property prices were “far too high” and wanted the Government to see to this.



Economic Growth the focus of Malaysia Budget 2013 

(28 August 2012)

Minister in the Prime Minister’s Department Tan Sri Nor Mohamed Yakcop says Tax Budget 2013 will focus on the people’s prosperity and the country’s economic growth to face the short- and long-term economic challenge besides maintaining the existing fiscal policy.

“For economic growth, we focus on the quality and quantity of the growth with the aim of maintaining a high growth rate and so that the benefits can be enjoyed by all the people.”


Government to reduce debts while helping rakyat

(17 August 2012)

The government will focus efforts on reducing the country’s debt apart from helping the rakyat as well as boost the economy in formulating Malaysia Budget 2013.

Second Finance Minister Datuk Seri Ahmad Husni Hanadzlah said the country’s debt currently stands at 53 per cent of gross domestic product.


Bursa to rise on Malaysia Budget 2013

(15 August 2012)

The FBM KLCI (Bursa Malaysia) is expected to trend higher due to rising foreign fund flow, improved global sentiment and Malaysia Budget 2013 rotation play, according to Affin Investment Bank.

In a retail research note Tuesday, Affin said despite the Hari Raya holiday mood, it expects “FBM KLCI to trend higher towards 1650 level riding on improved global sentiment, rising foreign buying and Tax Budget 2013 rotation play”.


Lower taxes, affordable homes, cheaper food & better public transport

(7 August 2012)

The Finance Ministry received 84 memoranda from various groups, NGOs and individuals on proposals for the upcoming Malaysia Budget 2013 as it started off its first of 18 focus group meetings last week.

Deputy Finance Minister Datuk Donald Lim Siang Chai said among the popular requests was for lower individual and corporate tax, which he said would be considered.


More benefits are expected by the People

(7 August 2012)

Universiti Sains Malaysia’s School of Social Science deputy dean, Dr Sivamurugan Pandian, said “The tax budget 2013 needs to explore initiatives, especially for those  below the poverty line as they would be hit hardest by any potential crisis,” he told the New Straits Times yesterday.

He said the previous budget initiatives such as the 1Malaysia People’s Aid (BR1M RM500 Cash) and Kedai Rakyat 1Malaysia (KR1M) should be continued, besides introducing more benefits for single parents and the needy.


Prime Minister invites ideas & inputs for Tax Budget 2013

(16 July 2012)

Prime Minister Datuk Seri Najib Razak has invited Malaysians to participate in the Malaysia Budget 2013 discussions by contributing ideas and sharing their suggestions and views online from Monday to July 29.

The public can submit their opinions by clicking on the appropriate place on the latest posting on Najib’s blog, www.1malaysia.com.my.


Malaysia Budget 2013  will be tabled on 28 September 2012

(16 July 2012)

Prime Minister Datuk Seri Najib Razak said the budget would focus on quality and balanced growth as well as the people’s well-being.

“I am here to listen to your views and recommendations on issues confronting us. As part of the tax budget 2013 consultation, we have received 84 memorandums.”

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