GST not expected to reduce in short term | KPMG | MY

GST not expected to reduce in short term

GST not expected to reduce in short term

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畢馬威:消費稅短期料不調降

毕马威王元兴:
消费税短期料不调降

(吉隆坡25日讯)毕马威税务服务私人有限公司执行董事王元兴指出,消费税如同政府在宣布2017年财政预算案前保证般没有调涨,这对人民而言是一项喜讯。

不过,政府将持续依赖税收入来应对开销,以降低对油气领域收入的依赖,因此消费税估计在短期内不会调低。

经济方面,政府预计可在2017年达到3%赤字目标,相较今年为3.1%。大马经济成长今年料介于4%到4.5%,明年则处在4%到5%之间。

中小型企业对国家经济的贡献逐步提高,政府建议首50万令吉可征税收入的稅率,從19%降至18%,從2017稅年開始生效。其余的可征稅收入則保留在24%稅率。雖然這項減稅建議不顯著,至少可減輕中小型企業的財務負擔,尤其是面對消費稅帶來的合規成本增長。

此外,政府也建議新的課稅制度,即根據相較前一年可征稅收入增長幅度來降低企業所得稅,降幅高達4%。這項建議旨在減少生意成本,以及鼓勵商家努力提高收入。

此新闻稿採擇于国际时报,2016年10月26日。

GST not expected to reduce in short term

KPMG Tax Services Sdn Bhd executive director Ong Guan Heng pointed out that it was a great news to citizens that there was no increment in the Goods and Services Tax (GST) rate in Budget 2017.

The government will be relying on the collection of GST to cope with expenses and reduce the dependence on income from the oil and gas industry. Thus, there will be no reduction in GST in the short-term.

It was expected that Malaysia will achieve a fiscal deficit target of 3% of gross domestic product in 2017, compared to 3.1% this year. Malaysia's economy is also expected to grow between 4% and 5% next year, compared with 4.0% and 4.5% growth this year.

As the contribution from small and medium enterprises (SMEs) to the country’s economic growth has become more significant, the government will also reduce the SMEs’ tax rate on chargeable income up to the first RM500,000 to 18% from 19% effective year 2017 onwards. This scheme is believed to ease the burden of SMEs and to aid SMEs towards transformative growth.

In addition, there is also a new scheme for companies specifically for the years of assessment 2017 and 2018 which offers a reduction in tax rate to be applied to the increase in chargeable income compared to the previous year of assessment. It was expected that this new scheme would reduce the cost of business and to motivate businesses to increase their chargeable income.

This article first appeared in INTERNATIONAL TIMES, on October 26, 2016.

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