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Summary of tax amendment for Budget 2014

This is intended to update you on the latest amendments and developments to the relevant tax legislations, including those announced by our honorable Prime Minister cum Minister of Finance, Y.A.B. Dato’ Sri Mohd Najib Tun Haji Abdul Razak in the 2014 Budget on 25th October 2013. The summary of key amendments outlined in the 2014 [&hellip

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2014 Budget FAQ

PwC budget team: The Star Malaysia 30 October 2013 Q: Will I have to pay goods and services tax (GST) if I buy goods from a “kedai runcit”? A: The Government has indicated that basic food and price control items will be zero rated and therefore no tax will be charged on these items. However, [&hellip

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Easy to do business in Malaysia

By PATRICK LEE patrick.lee@thestar.com.my The Star Malaysia 30 October 2013 KUALA LUMPUR: A World Bank report has ranked Malaysia as the sixth friendliest country in the world to do business, beating developed nations such as South Korea, the United Kingdom and Australia. In a survey of 189 economies, the “Doing Business Report 2014” saw Malaysia [&hellip

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WHY YOU NEED TO HIRE INTERNS

By SU ANN CHENG mystarjob@leaderonomics.com MyStarJob 26 October 2013 How to maximise the internship experience for both the company and intern WHEN it comes to internships, the discussion is usually skewed to how it benefits the interns. Indeed, interns gain invaluable knowledge and experience, giving them a competitive edge, which may very well catapult them [&hellip

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Higher tax rates may not stop house prices from going up

The Star Malaysia 27 October 2013 PETALING JAYA: The increase in Real Property Gains Tax (RPGT) will dampen speculation but it is unlikely to stop house prices from escalating and may even lead to a rise, say developers and consultants. Real Estate and Housing Developers Association (Rehda) president Datuk Seri Michael K.C. Yam said the [&hellip

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DIBS removal to curb speculation

By FOONG PEK YEE and LOSHANA K. SHAGAR newsdesk@thestar.com.my The Star Malaysia 28 October 2013 KUALA LUMPUR: The doing away of Developer Interest Bearing Scheme (DIBS) for properties will help curb speculation, said MCA Young Professionals Bureau chief Datuk Chua Tee Yong. Chua said developers offering DIBS had actually marked prices up by about 5% [&hellip

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Higher tax will help stabilise house prices

The Star Malaysia 26 October 2013 THE National House Buyers Association (HBA) has welcomed the Government’s proposal to increase the Real Property Gains Tax rate, which it said would help stabilise house prices. The revision was also lauded as an “excellent mathematical formula” to prevent the emergence of a “homeless generation” among young adult Malaysians, [&hellip

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Feeling the GST pinch

By YU JI yuji@thestar.com.my The Star Sarawak 26 October 2013 KUCHING: The state Malaysian Trades Union Congress (MTUC) has expressed deep concern over the proposed Goods and Services Tax (GST), which is scheduled to begin April 1, 2015. “A poor family earning RM2,000 is not paying (income) tax now, but soon, they’ll be paying GST. [&hellip

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Outsourcing industry set to double in growth by 2017

25 October 2013 OUTSOURCING Malaysia (OM), an initiative under the National ICT Association of Malaysia (Pikom), recently said the outsourcing industry in Malaysia was set to double in growth by 2017 with a Compound Annual Growth Rate (CAGR) of 15% from its current 2012 revenue of US$1.7bil. OM released its second industry report titled ‘Malaysia’s [&hellip

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Budget 2014: Property stocks may be hit by real property gains tax

Updated: Friday October 25, 2013 MYT 7:44:22 AM BY CHOONG EN HAN PETALING JAYA: Property stocks may take a hit in a knee-jerk reaction following the much-speculated hike in the real property gains tax (RPGT) expected to be announced in Budget 2014 today. Analysts believed that while developers might see sentiment softening in the near-term, [&hellip