Saturday, 20 October, 2018

Fiscal reform initiative is underway - Finance Ministry

GST Malaysia Malaysia Resets Goods and Services Tax to Zero From June 1, 2018
Jean Garcia | 17 May, 2018, 16:47

And while it does seem that the GST is finally going away, this does not mean it's complete dismissal, as there still remains certain protocols for tax filing and claims to be heeded by individuals and businesses. It's a brief explanation on how the country will cope without the significant revenue contribution from GST, which stood at RM44 billion in 2017.

The Goods and Services Tax (GST) in Malaysia will be reduced from the existing rate of 6% to 0% starting from 1 June 2018.

The ministry said expenditure reduction will begin with rationalisation, efficiency measures and reduction in wastages. Zeti Akhthar Aziz, a senior adviser to the Malaysian government, said on Tuesday that Malaysia would be able to reduce the fiscal deficit by controlling expenditure in the absence of GST, reported Reuters. Brent crude is now hovering just below the US$80 per barrel mark.

Malaysia announced it would scrap the 6 per cent GST rate, in line with the electoral promise by Prime Minister Mahathir Bin Mohamad that helped him win the elections last week. Those who argue that the GST has not led to a great improvement in the fortunes of government revenue point out that service tax, included in the GST, was not earlier available to States.

Although the development in Malaysia may not have any direct impact on India, experts suggest the government should closely study the Malaysian experience, take "necessary precautions", and come up with additional reforms to expand GST in a phased manner.

DA Davidson Weighs in on TripAdvisor's Q2 2018 Earnings (TRIP)
On Thursday, February 15 the rating was maintained by SunTrust with "Hold". ( NASDAQ : TRIP ) rating on Thursday, September 28. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link.

If the new SST rate is 10%, as it was before GST came into play, we could be seeing an increase in auto prices compared to today's sticker prices.

Najib had in the past hailed the GST introduced on April 1, 2015 as the country's "saviour", following a fall in global oil prices then that had caused lower revenue and forced oil-producing Malaysia to revise its government budget. We were reminded of this earlier this week by Edaran Tan Chong Motor's sales and marketing director Christopher Tan. So if the situation is such that if the sales tax implemented will be exactly the same as before, there could actually be a price increase. The Honda Jazz 1.5S meanwhile could see a new price of under RM69,000!

Another potential surprise for the auto buying public is that prices might not fall by exactly 6% come June 1.

As regards revenue through non-GST taxes, which cover petroleum products and alcohol, the growth rate was 10.7% for the same period.

"It is a question of how quickly you can bring (the SST) back".

Recommended

  • Claim From Italy: Manchester United Closer To Alex Sandro Signing

    Claim From Italy: Manchester United Closer To Alex Sandro Signing

    Conte will nearly certainly leave Stamford Bridge this summer and a new manager will come to take over to Chelsea . Romelu Lukaku missed the end of the season run-in with an ankle injury.
    Analysts Ratings on: Enbridge Energy Management LLC (EEQ)

    Analysts Ratings on: Enbridge Energy Management LLC (EEQ)

    Traders often add the Plus Directional Indicator (+DI) and Minus Directional Indicator (-DI) to identify the direction of a trend. Advancing issues outnumbered declining ones on the NYSE by a 2.30-to-1 ratio; on the Nasdaq, a 2.62-to-1 ratio favored advancers.
    IPL 2018: Mumbai Indians win a thriller with Bumrah's heroics

    IPL 2018: Mumbai Indians win a thriller with Bumrah's heroics

    What Mumbai Indians needs to do: On May 20, it plays Delhi Daredevils , a team which is out of the race for the playoffs. Ashwin bowled two overs for 13 runs and took two wickets in the death, but then inexplicably did not complete his quota.
  • RJD To Meet Governor To Form Govt In Bihar

    RJD To Meet Governor To Form Govt In Bihar

    The party's state president HD Kumaraswamy attacked Prime Minister Narendra Modi's government for "demolishing" the democracy. If they have allowed the single-largest party to come to power in Karnataka, then they should allow that here as well.

    21:28'F**k Turkey': Netanyahu's Son Posts Disputable Image Amid Diplomatic Scandal

    Israel and Turkey are involved in an ongoing tit-for-tat over Israel's response to Monday's violent protests at the Gaza border. Ankara also withdrew its ambassador in Tel Aviv along with its ambassador in the US.
    5 found dead inside Denton County home, 1 other injured

    5 found dead inside Denton County home, 1 other injured

    The Ponder Fire Department later confirmed that five people were found dead inside of the home, and another person was injured. The female survivor's condition is unknown at this time. "It's sad", neighbor Mark Downing said Wednesday.
  • Jose Mourinho faces obstacle to secure Leonardo Bonucci deal

    Jose Mourinho faces obstacle to secure Leonardo Bonucci deal

    It would be beneficial to have a player of Bonucci's huge experience and quality in the United back line. Let us know in the comments section below.
    OnePlus 6 passes scratch, burn, and bend testing

    OnePlus 6 passes scratch, burn, and bend testing

    And we are certainly glad to share that OnePlus 6 passes the extensive scratch, burn, and bend test with flying colours. The screen withstood an open flame for about 20 seconds, after which the pixels exposed to it permanently died.
    Will Apple bundle fast USB-C chargers with 2018's iPhones?

    Will Apple bundle fast USB-C chargers with 2018's iPhones?

    The iPhone 8 and iPhone X already support fast charging, but consumers need to buy a separate fast charger from Apple . Plus, the brick will be smaller than past year , with a more rounded design.
  • Samsung in talks with ZTE, others to supply mobile processor chips: executive

    Samsung in talks with ZTE, others to supply mobile processor chips: executive

    This move if successful, can put Samsung in direct competition with Qualcomm, which supplies to all the major smartphone makers. However, Samsung later sent a statement to Reuters that there is no certainty that a deal will be reached with ZTE.
    Bumble Bee CEO indicted for tuna price fixing

    Bumble Bee CEO indicted for tuna price fixing

    The largest is Chicken of the Sea owned by the Thai Union Group, while the second largest is Bumble Bee and then StarKist. The market for canned tuna across the USA has been dominated for a long time by just three companies.
    Another transgender woman is murder in Dallas

    Another transgender woman is murder in Dallas

    Flores-Pavon, who went by Karla on Facebook , was pronounced dead at a hospital, local outlet CBS11 reported on Thursday. Few details are known about the circumstances of the victim's death; the Dallas Police Department is investigating.

FedEx Smith sees blockchain as 'next frontier' for logistics FedEx Smith sees blockchain as 'next frontier' for logistics Carter answered a question from the panel's host, author Don Tapscott. "It's Fred that dragged me into this, he said". He stated this while speaking at Coindesk's Consensus 2018 in NY .

SoftBank eyes Indian foodtech sector, in talks to invest in Zomato SoftBank eyes Indian foodtech sector, in talks to invest in Zomato Uber , on other hand, is expected to invest $200 million into its food delivery business, UberEats, in India. The Deepinder Goyal-led company has hit $100 million in annual revenue run rate in March this year.

Mira Rajput poses with baby bump days after announcing her pregnancy Mira Rajput poses with baby bump days after announcing her pregnancy The star-wife was happy to greet the paparazzi as she stepped out on Wednesday, May 16, to visit an eatery in Bandra, Mumbai. Chic in a blue top and white trousers , Mira was photographed as she smiled for the camera in Bandra on Wednesday evening.

'Lord of the Rings' TV Series Reportedly Set to Follow Young Aragorn 'Lord of the Rings' TV Series Reportedly Set to Follow Young Aragorn If you need a refresher, Aragorn is the character played by Viggo Mortensen in the Lord of the Rings film trilogy. In fact, the first season could possibly take place right in Rivendell and follow young Aragorn from there.

Moto G6 with Custom ZUI Skin Launched as Moto 1S in China Moto G6 with Custom ZUI Skin Launched as Moto 1S in China While there are no changes in terms of specifications and design, the stock Android UI is replaced with the custom ZUI skin. Finally, the smartphone has a 3000 mAh Li-ion non-user replaceable battery with Turbocharging support via USB type C port.

Harmanpreet Kaur, Smriti Mandhana to lead teams for Women's T20 Challenge Harmanpreet Kaur, Smriti Mandhana to lead teams for Women's T20 Challenge Mandhana and Harmanpreet will lead IPL Trailblazers and IPL Supernovas respectively in the upcoming Women's T20 Challenge Match. There will be a host of Indian and worldwide stars that will take the field for the Women's T20 Challenge match in Mumbai .

Monzo now supports Apple Pay in its banking services Monzo now supports Apple Pay in its banking services Monzo , the United Kingdom challenger bank, has finally added Apple Pay to its mobile-only current account. It's not just for your iPhone though - it'll also work with your Apple Watch, iPad or MacBook Pro.

Ranieri set to exit French soccer's Nantes Ranieri set to exit French soccer's Nantes Ranieri also failed to attend the club's recent anniversary dinner, citing that he "couldn't find a parking space" as his reasoning.

Research Analysts Set Expectations for Pioneer Energy Services' Q2 2018 Earnings (PES) Historical volatility refers to the price fluctuations exhibited by the underlying asset (such as stock) over time. When we look at the Volatility of the company, Week Volatility is at 7.19% whereas Month Volatility is at 7.61%.

Amira Nature Foods Ltd (ANFI) Where Moving Ahead? North American Construction Group Ltd . ( NOA ) negotiated 99,425 shares and maintained an average volume of 47.15K shares. The RSI, or Relative Strength Index, is a widely used technical momentum indicator that compares price movement over time.

Watch live as MI astronaut spacewalks outside International Space Station Watch live as MI  astronaut spacewalks outside International Space Station NASA is providing live coverage of the exciting process, which began around 8:10 a.m. on May 16. Overall, this is the 210th spacewalk in support of station assembly, maintenance and upgrades.

Handbags, clothes seized from Najib's home, raid still ongoing Handbags, clothes seized from Najib's home, raid still ongoing No charges were mentioned, although Harpal believes that it could be under the money laundering act. Police have seized handbags and gifts at the residence at Jalan Langgak Duta, Kuala Lumpur .

Jay Rock Comes Through In The Clutch For The "Win" Jay Rock Comes Through In The Clutch For The Kendrick Lamar , SZA, Jay Rock , Schoolboy Q, Ab-Soul, Sir, and Lance SkiiWalker will all be on the bill together this summer. TDE is now in the midst of The Championship Tour , and they finally have their rallying cry.

FY2018 EPS Estimates for Microsoft Co. (NASDAQ:MSFT) Raised by Analyst Spectrum Financial Alliance Ltd LLC bought a new position in shares of Microsoft during the 1st quarter worth about $147,000. The stock of Microsoft Corporation (NASDAQ:MSFT) has "Outperform" rating given on Friday, January 27 by BMO Capital Markets.

Analysts See $0.26 EPS for BP Midstream Partners LP (BPMP) Analysts See $0.26 EPS for BP Midstream Partners LP (BPMP) Currently, the stock carries a price to earnings ratio of 0, a price to book ratio of 2.64, and a price to sales ratio of 1041.67. The company had revenue of $305.74 million during the quarter, compared to the consensus estimate of $237.22 million.