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* SOME 100,000 TAX PAYERS TO BE OUT OF THE TAX NET AS REBATE FOR TAXABLE INCOME OF RM35,000 AND BELOW WILL BE INCREASED TO RM400 FROM RM350
* TAX EXEMPTION FOR ALL INTEREST INCOME FOR INDIVIDUALS
* REDUCTION OF IMPORT DUTIES FOR CONSUMER DURABLES (EXAMPLES: BLENDER, RICE COOKER, MICROWAVE OVEN AND ELECTRIC KETTLE) TO BETWEEN 5 PERCENT AND 30 PERCENT FROM 10 PERCENT AND 60 PERCENT
* IMPORT DUTY EXEMPTION ON SEVERAL FOOD ITEMS INCLUDING VERMICELLI, BISCUITS, FRUIT JUICES AND CANNED SWEET CORN
* ROAD TAX FOR PASSENGER VEHICLES WITH DIESEL ENGINES TO BE SIMILAR WITH PETROL ENGINES EFFECTIVE SEPT 1, 2008
* TAX EXEMPTION FOR EMPLOYEES ON STAFF BENEFITS SUCH AS SUBSIDISED INTEREST ON HOUSING, MOTOR VEHICLES & EDUCATION LOANS
* BILLS OF MOBILE & FIXED LINE PHONES AS WELL AS INTERNET PAID BY EMPLOYERS TO BE TAX-EXEMPTED
* GOVERNMENT TO PROVIDE RM3 BILLION SOFT LOAN FACILITY UNDER PUBLIC TRANSPORTATION TO FINANCE ACQUISITION OF BUSES AND RAIL ASSETS. TO BE ADMINISTERED BY BANK PEMBANGUNAN MALAYSIA BHD
* 50 PERCENT REDUCTION IN TOLL CHARGES FOR ALL BUSES, EXCEPT AT BORDER ENTRY POINTS, FOR TWO YEARS EFFECTIVE SEPT 15, 2008
* EFFICIENCY OF PUBLIC TRANSPORTATION TO BE IMPROVED VIA RM35 BILLION EXPENDITURE FROM 2009 TO 2014
* FARMERS TO BENEFIT FROM PROPOSAL TO ABOLISH IMPORT DUTY ON FERTILIZERS & PESTICIDES
* HOME OWNERSHIP AMONG CIVIL SERVANTS TO BE BOOSTED BY EXTENSION OF HOUSING LOANS TENURE TO 30 YEARS FROM 25 YEARS
* GOVERNMENT HOUSING LOAN INSURANCE PANEL TO BE EXPANDED TO ALL ELIGIBLE INSURANCE COMPANIES FROM ONLY FIVE INSURANCE COMPANIES NOW
* EXCISE DUTIES ON CIGARETTES UP THREE SEN TO 18 SEN PER STICK. DUTY FOR 20-STICK PACK NOW UP 60 SEN
* HIGHEST MARGINAL TAX RATE FOR INDIVIDUALS TO BE CUT TO 27 PERCENT FROM 28 PERCENT EFFECTIVE YEAR OF ASSESSMENT 2009
* MIDDLE INCOME GROUP TO BENEFIT FROM CUT IN MARGINAL TAX RATE TO 12 PERCENT FROM 13 PERCENT
* ACCELERATED CAPITAL ALLOWANCE FOR PURCHASE OF ICT EQUIPMENTS CAN BE CLAIMED OVER ONE YEAR INSTEAD OF TWO YEARS
* IMPORT PROHIBITION ON CRANES USED AT PORTS TO BE REMOVED. IMPORT DUTY FOR THE CRANES CUT TO 5 PERCENT FROM 20 PERCENT
* NEW INVESTMENTS BY OPERATORS OF FOUR-STAR & FIVE-STAR HOTELS IN SABAH AND SARAWAK TO ENJOY PIONEER STATUS WITH 100 PERCENT INCOME TAX EXEMPTION OR INVESTMENT TAX ALLOWANCE OF 100 PERCENT FOR FIVE YEARS
* VENTURE CAPITAL COMPANIES TO ENJOY FIVE-YEAR TAX EXEMPTION FOR INVESTING AT LEAST 30 PERCENT OF THEIR FUNDS IN START-UP, EARLY STAGE FINANCING OR SEED CAPITAL * LOCAL SHIPPING INDUSTRY TO BE PROMOTED VIA A NEW RM2 BILLION FUND TO FINANCE THE PURCHASE OF SHIPS AND UPGRADING OF SHIPYARDS
* PLANTS AND MACHINERY ACQUIRED BY SMEs IN THE YEARS OF ASSESSMENT 2009 & 2010 TO BE ACCORDED ACCELERATED CAPITAL ALLOWANCE TO BE CLAIMED WITHIN ONE YEAR.
* REMOVED - IMPORT DUTY AND SALES TAX ON SOLAR PHOTOVOLTAIC SYSTEM EQUIPMENT
* REMOVED - IMPORT DUTY AND SALES TAX ON INTERMEDIATE GOODS SUCH AS HIGH EFFICIENCY MOTORS AND INSULATION MATERIALS
* REMOVED- SALES TAX ON LOCALLY MANUFACTURED SOLAR HEATING SYSTEM EQUIPMENT
* REMOVED - SALES TAX ON LOCALLY MANUFACTURED ENERGY EFFICIENT CONSUMER GOODS SUCH AS REFRIGERATORS, AIR CONDITIONERS, LIGHTINGS, FANS & TVs
* EXEMPTION OF 100 PERCENT IMPORT DUTY & 50 PERCENT EXCISE DUTY ON NEW HYBRID CBU CARS, WITH ENGINE CAPACITY BELOW TWO 2,000 CC LITRE TO BE GIVEN TO FRANCHISE IMPORTERS. THE EXEMPTION IS FOR TWO YEARS
* MALAYSIAN ECONOMY PROJECTED TO GROW BY 5.4 PERCENT IN 2009
* EXTERNAL TRADE IN 2009 TO REMAIN BUOYANT WITH EXPORTS GROWING AT 4.6 PERCENT
* PER CAPITA INCOME IN 2009 IS ESTIMATED TO INCREASE BY 8.1 PERCENT TO RM27,900
* INFLATION IN 2009 TO MODERATE, FOLLOWING VARIOUS MEASURES TO CURB PRICE INCREASES * ONE MONTH BONUS FOR CIVIL SERVANTS, SUBJECT TO A MINIMUM OF RM1,000. PAYMENT IN TWO INSTALMENTS, SEPTEMBER AND DECEMBER 2008
* ONE MONTH BONUS FOR CIVIL SERVANTS, SUBJECT TO A MINIMUM OF RM1,000. PAYMENT IN TWO INSTALMENTS, SEPTEMBER AND DECEMBER 2008 -- BERNAMA |
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