2014 Budget, the Government proposed not to impose GST on basic food items and services. Based on the feedback receivedn from all segments of society, the Government agrees to widen the scope of items that will not be subjected to GST as follows: (i) All types of fruits whether local or imported; (ii) White bread and wholemeal bread; (iii) Coffee powder, tea dust and cocoa powder; (iv) Yellow mee, kuey teow, laksa and meehoon; (v) The National Essential Medicine covering almost 2,900 medicine brands. These medicines are used to treat 30 types of diseases including heart failure, diabetes, hypertension, cancer and fertility treatment; (vi) Reading materials such as childrens coloring books, exercise and reference books, text books, dictionaries and religious books; and (vii) Newspapers. 66. In addition, the Government has also agreed electricity consumption that is not subject to GST be increased from the first 200 units to 300 units. This will benefit 70% of households. 67. Further, to ensure the implementation of GST does not burden the rakyat, the Government has agreed that the retail sale of RON95 petrol, diesel and LPG be given relief from the payment of GST. Through this measure, consumers and targeted groups will not have to pay GST on the purchase of RON95 petrol, diesel and LPG. 68. Of the 944 goods and services in the basket of goods of the CPI, the prices of 532 items or 56% are expected to reduce up to 4.1%. Among the goods are medicines, electrical appliances such as refrigerators and washing machines, textile products, plastic products such as pails and plates, shoes and slippers, household furniture, baby diapers, soap, meat, chicken eggs, cooking oil, seafood, rice and vegetables. 69. Meanwhile, about 354 goods and services may experience some price increase but less than 5.8%. The Government hopes that traders will be responsible and not raise prices indiscriminately to burden the rakyat. The Government will disseminate shoppers guide to enable consumers compare prices before and after the implementation of GST. 70. Indeed, with the implementation of GST, the Government will be able to reduce the tax burden on the rakyat as follows: First: For individuals and households for year of assessment 2015 First: For individuals and households for year of assessment 2015 (i) Individual income tax rates will be reduced by 1 to 3 percentage points. With this measure, 300,000 individual taxpayers will no longer pay income tax. (ii) Tax payers with family and income of RM4,000 per month will not have tax liability. (iii) Individual income tax will be restructured whereby the chargeable income subject to the maximum rate will be increased from exceeding RM100,000 to exceeding RM400,000. The current maximum tax rate at 26% will be reduced to 24%, 24.5% and 25%. This will result in the existing taxpayer enjoying a tax saving of at least 5.3%. Second: For year of assessment 2015, cooperative income tax rate will also be reduced by 1 to 2 percentage points. In addition, secretarial fee and tax filing fee are allowed as deduction; Third: For year of assessment 2016, corporate income tax rate will be reduced by 1 percentage point from 25% to 24%; and Fourth: For year of assessment 2016, income tax rate for SMEs will also be reduced by 1 percentage point from 20% to 19% 71.The experience of other countries has shown that a key critical factor in the succesful implementation of GST is the level of readiness by businesses. To assist businesses, the following incentives and assistance will be provided: First: Training grant of RM100 million provided to businesses for their employees to attend GST courses; Second: Financial assistance amounting to RM150 million provided to SMEs for the purchase of accounting software; Third: Accelerated Capital Allowance on purchase of ICT equipment and software; and Fourth: Expenses incurred for training in accounting and ICT relating to GST will be given additional tax deduction. Measure 2: Subsidy Rationalisation 72. The Government had allocated RM588 million for various subsidies in 1994. This amount has increased to RM40.5 billion in 2014. 73. To improve the public finance position, the Government is committed to implementing subsidy rationalisation, particularly for petroleum. The rasionalisation aims to ensure a more targeted subsidy, reduce leakages and smuggling. The Government will ensure that the subsidy rationalisation is implemented in stages so that it does not burden the rakyat. 74. At present, the Government allocates more than RM21 billion a year to subsidise RON95 petrol, diesel and LPG cooking gas. As a result, the allocation for subsidies has increased 14 times from RM1.65 billion in 2002 to RM23.5 billion in 2013, solely to maintain the low retail petrol price. This is due to the increase in number of vehicles from 13.6 million units in 2008 to 23.7 million units in 2013. 75. To ensure a more targeted subsidy and taking into account the rakyats awareness and readiness to subsidy rationalisation, the Government will develop a new mechanism for providing petroleum subsidy. I will announce the new mechanism soon. 2014年财政预算案，政府建议勿施于人基本的食品和服务税。根据来自社会各阶层得到的反馈，政府同意扩大，不会受到消费税如下项目的范围： （i）所有类型的水果，无论是本地或进口; （二）白面包和全麦面包; （ⅲ）咖啡粉，茶尘和可可粉; （四）黄眉，kuey果条，叻沙和米粉; （五）国家基本药物几乎涵盖了2,900医药品牌。这些药物是用来治疗30种疾病，包括心脏衰竭，糖尿病，高血压，癌症和生育治疗; （六）阅读材料，如儿童着色书，练习和参考书，课本，字典和宗教的书籍;和 （七）报纸。 66此外，政府还同意用电量也就是不属于消费税从第200台增加到300台。这将有利于家庭的70％。 67此外，为确保消费税的实施并不负担国阵政府已经同意零售RON95汽油，柴油和液化石油气从支付商品及服务税给予减免。通过这一措施，消费者和目标群体将不必缴纳商品及服务税对购买RON95汽油，柴油和液化石油气。 68的944产品和服务的篮子消费物价指数的商品中，有532项或56％的价格有望降低到4.1％。其中商品是药品，电器，如冰箱，洗衣机，纺织品，塑料制品，如桶和盘子，鞋和拖鞋，家具，婴儿尿布，肥皂，肉类，鸡蛋，食用油，海鲜，米饭和蔬菜。 69。与此同时，约354产品和服务可能会遇到一些价格上涨，但低于5.8％。政府希望，交易商将负责，不能乱涨价负担的国阵。政府会发放购物引导，让消费者之前的消费税实施后，比较价格。 70事实上，随着消费税的实施，政府将可以减少对国阵的税负如下： 第一：对于个人和家庭的评估2015年 第一：对于个人和家庭的评估2015年 （一）个人所得税的税率由1至3个百分点下降。通过该措施，30个人的纳税人将不再缴纳所得税。 （ii）与家人和每月RM4,000所得税的纳税人不会有纳税义务。 （三）个人所得税将进行重组，从而应课税入息受到的最高税率将从10万令吉，超过以超过RM400,000增加。当前最大税率在26％将被减少到24％，24.5％和25％。这将导致在现有的纳税人享受节税的至少5.3％。 第二：对于评估2015年，合作社的所得税税率也将受到1至2个百分点下降。此外，秘书费和税申请费是允许的扣除; 第三：为了评估2016年企业所得税率将下降1个百分点，从25％降低到24％;和 第四：对于评估2016年，所得税税率为中小型企业也将下降1个百分点，从20％降低到19％ 其他国家的71.The经验表明，在成功的实施GST的一个关键的关键因素是准备由企业的水平。为协助企业，以下激励措施和援助将提供： 第一：提供给企业为员工参加课程的消费税1亿令吉的培训津贴; 二：财政援助金额为中小型企业提供了收购会计软件RM150万元; 第三：加速资本减免的购置ICT设备和软件;和 四：费用支付培训会计及有关消费税的ICT将给予额外的税前扣除。 措施2：补贴合理化 72，政府已拨款RM588万元，各项补贴在1994年这一数额已增至RM40.5十亿在2014年。 73为了改善公共财政的地位，政府承诺实施补贴合理化，特别是石油。该rasionalisation旨在确保更有针对性的补贴，减少泄漏和走私活动。政府将确保补贴合理化分阶段实施，以便它不会负担国阵。 74目前，政府分配每年超过RM21十亿补贴RON95汽油，柴油和石油气煮食气体。这样一来，分配补贴已经从2002年的RM1.65十亿增加了14倍，RM23.5十亿在2013年，仅维持低汽油零售价格。这是由于从1360万台到2370万台增加车辆数量在2008年到2013年。 75。为确保更有针对性的补贴，并考虑到国阵的意识和准备补贴合理化，政府将制定新的机制，提供石油补贴。我将很快宣布新的机制。
Posted on: Sat, 11 Oct 2014 06:20:39 +0000
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