Budget 2012: Highlights
2 posters
Page 1 of 1
Budget 2012: Highlights
Foreign equity ownership of up to 100 per cent will be allowed in certain sub-sectors of the services industry. 17 service sub-sectors would be further liberalised, including private hospitals, architects, engineering, law and communication services.
- A RM100 million SME Revitalisation Fund offering loans up to a maximum of RM1 million for entrepreneurs will be available from Jan 2012
- Real Property Gains Tax has been increased for the first two years to 10 per cent each year from the 5 per cent previously. The tax increase is to help curb speculation in the real estate market.However, the tax regime of 5 per cent will be imposed on the third, fourth and fifth year of disposal of an asset, so that genuine buyers are not discouraged from purchasing.There will be no tax on property disposed after the fifth year.
- To enable SMEs to commercialise research products, the government will set up a Commercialisation Innovation Fund totalling RM500 million.
- A RM2 billion shariah-compliant SME Financing Fund managed by selected Islamic banks will be established in 2012.
- The government plans to list Federal Global Ventures Holdings Sdn Bhd on Bursa Malaysia by middle of 2012 to unlock value as well as raise funds for the company to be a global conglomerate.
- A Treasury Management Centre will be set up to offer incentives to develop Malaysia as a competitive financial centre. The Kuala Lumpur International Financial District (KLFID) would be developed with incentives such as income tax exemptions for firms.
- The government will set up a RM500 million Syariah-compliant fund to help small and medium enterprises (SMEs) to help them commercialise their research projects.
- Malaysia to offer three incentives, which includes income tax exemption of 70 per cent for five years, to multinational corporations to set up their Treasury Management Services in the country.
"To accelerate the banking, finance and capital market, continous effort is required to promote the development of a more integrated and comprehensive financial services. This can be achieved with the establishment of the Treasury Management Centre which will contribute to the development of Malaysia as a competitive financial centre in the region.
"To attract MNCs to establish their Treasury Management Services in Malaysia, the Government proposes the following incentive. They are, income tax exemption of 70 per cent for 5 years, withholding tax exemption on interest payments on borrowings, stamp duty exemption on loan and service agreements.
Meanwhile, the government also proposed that to extend the concessionary tax rate of 10 per cent on dividends of non-corporate institutional and individual investors in Real Estate Investment Trust (REITs) to December 31 2016. Prior to the extension, the incentive was scheduled to end on December 31, 2011.
- RM1 billion will be provided through a special fund for the construction, improvement and maintenance of schools. The Government will expand the programme to supply clean water to the rural community in Sabah by RM50 million.
In selected FELDA ares, the government will provide RM400 million to upgrade the water supply infrastructure.
Help children access clean water. Click here.
Contractors who have experience in building hospitals will be glad to hear that the government has big plans for Hospital Kuala Lumpur - the oldest in Malaysia. This hospital will be upgraded to be the country’s premier hospital.
In making sure public transportation properly serves commuters within Klang Valley, Najib said the government will identify areas in the vicinity of MRT, LRT and other public transport to be developed by PR1MA.
Under the People's Housing Programme another 75,000 units of affordable houses will be built.
- A RM100 million SME Revitalisation Fund offering loans up to a maximum of RM1 million for entrepreneurs will be available from Jan 2012
- Real Property Gains Tax has been increased for the first two years to 10 per cent each year from the 5 per cent previously. The tax increase is to help curb speculation in the real estate market.However, the tax regime of 5 per cent will be imposed on the third, fourth and fifth year of disposal of an asset, so that genuine buyers are not discouraged from purchasing.There will be no tax on property disposed after the fifth year.
- To enable SMEs to commercialise research products, the government will set up a Commercialisation Innovation Fund totalling RM500 million.
- A RM2 billion shariah-compliant SME Financing Fund managed by selected Islamic banks will be established in 2012.
- The government plans to list Federal Global Ventures Holdings Sdn Bhd on Bursa Malaysia by middle of 2012 to unlock value as well as raise funds for the company to be a global conglomerate.
- A Treasury Management Centre will be set up to offer incentives to develop Malaysia as a competitive financial centre. The Kuala Lumpur International Financial District (KLFID) would be developed with incentives such as income tax exemptions for firms.
- The government will set up a RM500 million Syariah-compliant fund to help small and medium enterprises (SMEs) to help them commercialise their research projects.
- Malaysia to offer three incentives, which includes income tax exemption of 70 per cent for five years, to multinational corporations to set up their Treasury Management Services in the country.
"To accelerate the banking, finance and capital market, continous effort is required to promote the development of a more integrated and comprehensive financial services. This can be achieved with the establishment of the Treasury Management Centre which will contribute to the development of Malaysia as a competitive financial centre in the region.
"To attract MNCs to establish their Treasury Management Services in Malaysia, the Government proposes the following incentive. They are, income tax exemption of 70 per cent for 5 years, withholding tax exemption on interest payments on borrowings, stamp duty exemption on loan and service agreements.
Meanwhile, the government also proposed that to extend the concessionary tax rate of 10 per cent on dividends of non-corporate institutional and individual investors in Real Estate Investment Trust (REITs) to December 31 2016. Prior to the extension, the incentive was scheduled to end on December 31, 2011.
- RM1 billion will be provided through a special fund for the construction, improvement and maintenance of schools. The Government will expand the programme to supply clean water to the rural community in Sabah by RM50 million.
In selected FELDA ares, the government will provide RM400 million to upgrade the water supply infrastructure.
Help children access clean water. Click here.
Contractors who have experience in building hospitals will be glad to hear that the government has big plans for Hospital Kuala Lumpur - the oldest in Malaysia. This hospital will be upgraded to be the country’s premier hospital.
In making sure public transportation properly serves commuters within Klang Valley, Najib said the government will identify areas in the vicinity of MRT, LRT and other public transport to be developed by PR1MA.
Under the People's Housing Programme another 75,000 units of affordable houses will be built.
hlk- Moderator
- Posts : 19013 Credits : 45112 Reputation : 1120
Join date : 2009-11-14
Location : Malaysia
Re: Budget 2012: Highlights
- employers are required to contribute 13% instead of 12% epf for employees whose income is less than 5k/mth.
xettie- Member
- Posts : 1509 Credits : 1562 Reputation : 48
Join date : 2011-08-18
Re: Budget 2012: Highlights
well, nothing affects me for the new budget...
election is definitely coming... ah jib tries to do so much for the rural areas.
election is definitely coming... ah jib tries to do so much for the rural areas.
xettie- Member
- Posts : 1509 Credits : 1562 Reputation : 48
Join date : 2011-08-18
Similar topics
» 2014 Budget highlights
» RHBInvest Research Highlights 31st January 2012
» Budget 2012: Reactions from corporations
» 'Cut personal income tax in Budget 2012'
» Malaysia to cut deficit in 2012 Budget: PM
» RHBInvest Research Highlights 31st January 2012
» Budget 2012: Reactions from corporations
» 'Cut personal income tax in Budget 2012'
» Malaysia to cut deficit in 2012 Budget: PM
Page 1 of 1
Permissions in this forum:
You cannot reply to topics in this forum
|
|