Sarawak Manufacturers' Association


| Home | Licensing Procedure | Issues | Notice Board | Market Exchange | Activities | Members |



National Budget 2014

The Prime Minister, YAB Dato’ Sri Mohd. Najib Tun Haji Abdul Razak, tabled the 2014 Budget on Friday, 25 October 2013.

The 2014 Budget with the theme “Strengthening Economic Resilience, Accelerating Transformation and Fulfilling Promises” reflects the Government’s commitment to ensure that the economy continues to expand at a strong pace and to reduce the fiscal deficit, with the overall objective of prospering the nation and promoting the well-being of the people.

For the 2014 Budget, an amount of RM217.7 billion has been allocated for operating expenditure whilst for development expenditure, the amount allocated is RM46.5 billion. On the revenue side, the Federal Government is expected to generate an amount of RM224.1 billion. Taking into account the estimated revenue and expenditure, the Federal Government deficit in 2014 is expected to improve to 3.5% of GDP compared with 4% in 2013.

The five main focus areas of the Budget are:
• Invigorating economic activity;
• Strengthening fiscal management;
• Inculcating excellence in human capital;
• Intensifying urban and rural development;
• Ensuring well-being of the Rakyat.

The following are 2014 Budget Highlights:

1. Implementation of GST at the rate of 6% from 1 April 2015. GST will replace Sales Tax and Service Tax.

2. Reduction of individual tax rates of 1% to 3% across various income bands. The maximum individual tax rate is reduced from 26% to 25%, with the 25% rate applying to income in excess of RM400,000.

3. Relief of RM2,000 is given to tax residents earning up to RM8,000 per month with an aggregate income of up to RM96,000 a year.

4. Individuals who have been subjected to monthly tax deductions are not required to file tax returns if such monthly tax deductions constitute their final tax. The proposal is effective from YA 2014

5. Income tax rate for companies, limited liability partnerships, trust bodies, executors of an estate of an individual domiciled outside Malaysia at the time of his death and a receiver appointed by the Court is reduced from 25% to 24%. This proposal is effective from YA 2016.

6. Companies with paid up share capital of up to RM2.5 million are taxed at a reduced rate of 19% on the first RM500,000 of chargeable income. The excess is taxed at a reduced rate of 24%. This proposal is effective from YA 2016.

7. Income tax rates for cooperatives are reduced by 1% to 2% on chargeable income above RM150,000. This proposal is effective from YA 2016.

8. 100% accelerated capital allowance on information technology and communication (ICT) equipment is extended to YA 2016.

9. To promote Malaysia further as a preferred tourist destination as well as to increase the facilities for meeting, incentive, convention and exhibition activities, Pioneer Status or Investment Tax Allowance are given to hotel operators undertaking new investments in 4 and 5 star hotels. It is proposed that the incentives be extended for another 3 years.

10. Double deduction is given to small and medium enterprises, cooperatives, associations and organizations on the difference between the original salary and the minimum wages paid in calendar year 2014.

11. Companies with Flexible Working Arrangement (FWA) status will be given a double deduction on expenses incurred in the training of employees and payment of consultancy fees to design an appropriate FWA.

12. Anchor companies that have signed a memorandum of understanding with the Ministry of International Trade and Industry (MITI) in implementing Vendor Development Programme are to be given a double deduction on approved expenses.

13. Company secretarial fees of up to RM5,000 and tax filing fees of up to RM10,000 are now deductible.

14. Expenses incurred on the training of employees in the area of accounting and ICT for GST purposes are entitled to a double deduction. The proposal is effective for YA 2014 and YA 2015.

15. Imposition of Real Property Gains Tax of 30% for Malaysian citizens and permanent residents within a period of 3 years from acquisition. Disposals in the 4th and 5th year, will be subjected to RPGT at rates of 20% and 15% respectively.

For more information on 2014 Budget please log on to:
“” then click “BUDGET”

Posted Date: 1 Jun 2014

Issues List

FMM Digital Day
CM's Webinar on Zoom and Facebook Live
Highlights of the Finance Bill 2020 covering proposed.
2021年财政预算案 报道
COVID-19: Impacts to Business (Source: PwC)
National Budget 2021
SMEs Go Global Programme
Business Excellence Guide for SMEs
Business Scale-Up Programme
Movement Control Order, Malaysia
Covid-19: Six Months Exemption of HRDF Levy
Sarawak Micro Credit Scheme opens for application
Matching Grant for SME Digitalisation Initiative
Twelfth Malaysia Plan, 2021-2025
Minimum Wages Order 2020
National Budget 2020
Sarawak Digital Economy Strategy Book
Sarawak Federal Secretary Office
Sarawak Develops Digital Economy
Introduction of Centre of Technical Excellence
Structured Internship Programme (SIP)
New Guidelines on Market Development Grant
SME Competitiveness Rating for Enhancement (SCORE)
Industry4WRD Readiness Assessment
Minimum Wages Order (Revised 2018)
National Budget 2019
Launching of the National Policy on Industry 4.0
Malaysia Export Exhibition Centre (MEEC) in KL.
Digital Free Trade Zone (DFTZ)
National Workforce Human Capital Development Blueprint (2018 – 2025)
Matrade Reinstates Market Development Grant
Financing for Small and Medium Enterprises (SMEs)
Important Links of Budget 2018
Enforcement of Sarawak Labour Ordinance Section 60A
SIRIM-Fraunhofer Programme
National Graphene Action Plan 2020
Cabinet & Assistant Ministers of Sarawak
Salary Guide, Starting Salaries for 160 Selected Skill-Based Jobs
National Budget 2017
Scheme Micro Financing
Workshop on Sarawak Rural Economic Transformation
Industrial Innovation Program and STTF
Update on Immigration Guideline & Procedure
Minister of Industrial and Entrepreneur Dev
Malaysian Global Innovation and Creativity Centre (MaGIC)
Malaysian Chinese Women Entrepreneurs Foundation
Soft Loan Scheme for Automation and Modernisation
ASEAN Economic Community (AEC) Open Day
Investment Opportunities in the Resource Based Industries
OSH CLASS Regulations
2015 Bank Negara Malaysia Annual Report
Eleventh Malaysia Plan (11MP)
National Budget 2016
Briefing on Labour Chapter, TPPA
Trans-Pacific Partnership Agreement (TPPA)
Go-Ex Programme
KOJADI SME Loan Scheme
Amendments to Regulation 32(1) of the Employees’ Social Security (General) Regulations 1971
Bank Negara Malaysia Annual Report 2014
Green Technology Financing Scheme (GTFS)
The Factories & Machinery (Person-In-Charge) (Amendment) Regulations 2014
Income Tax (Deduction From Remuneration) Amended
Prime Minister's Hibiscus Award
GST Exempt, Zero-Rated and Relief Lists Gazetted
National Budget 2015
Application for GST e-Voucher
Registration for GST before 31 December 2014
Opening of EXIM Bank Kuching
National Budget 2014
Official Opening of Bank of China & Visa Center
MIDA e-Application
Termination of the GSP from 2014
Certificate of Responsibility on Food Safety
Imposition of Customs (Prohibition of Imports) Order on Construction Materials
Updated Import Mechanism for Iron and Steel Products
Minimum Retirement Age Act 2012
Programme on Training Scheme 1Malaysia
New Requirement for Food Exports to China
New Guidelines for Market Development Grant
National Budget 2013
Domestic Investment Strategic Fund
The Investment Coordinating Board of Indonesia (BKPM)
Master Plan for the Acceleration and Expansion of Indonesia's Economic Development (MP3EI)
Operator of Steam Boiler
Certificate of Fitness of Steam Boiler
Launching of MIDA new headquarters and logo
Pos Malaysia Shopping Portal
Get Malaysian Business Online (GMBO)
Department of Skills Development Malaysia
Customs Appeal Tribunal
The Minimum Wage Order 2012 Gazetted
Malaysian Competition Act 2010 Is Enforced
GST Implementation in the Near Future
National Budget 2012
Government Financial Assistance Programmes By Malaysian Industrial Development Finance (MIDF)
Malaysia Export Exhibition Centre
SME Development Programmes
Tebedu Inland Port
Malaysia National Budget 2011
Strategic Trade Act 2010 (STA)
IRB E-ledger
APEC Website on Tariffs and Rules of Origin (WebTR)
Highlight of Tenth Malaysia Plan (2011-2015)
New Economic Model for Malaysia
Malaysian Competition Act 2010
Malaysia National Budget 2010
Issues Raised at the Economic Council Dialogue
Employers Can Reduce Their Employees' Monthly Tax Deductions
Tax Incentives for the Manufacturing Sector in Malaysia
Halal Industry Development Corporation (HDC)
Malaysia External Trade Development Corporation (MATRADE)
National Budget 2009
Investment & Trade Dialogue and Seminar 2009
Seminar Keselamatan dan Kesihatan Pekerjaan
An Introduction Programme of GMP
Optimising Opp under Malaysia Free Trade Agreement
SMI & SME Intellectual Property Awareness Campaign
Briefing on the Malaysia Benchmarking Index (MBI)
Advertise in SMA 50th Anniversary Directory 2013
SMA Membership Directory 2003: Sample 2
SMA Membership Directory 2003: Sample 1
Contribution Rate For Employees Who Are Above 55 y
Special Taskforce to Facilitate Business (PEMUDAH)
Trade Exhibitions in Malaysia 2008 - 2009
Sarawak Corridor of Renewable Energy (SCORE)
Development Financial Institutions
Definition of SMEs:
2008 Budget Highlights
GS1 Identification System
Skill Training Programmes (Technical & Vocational) By Government
Useful Website
Third Industrial Master Plan (IMP3) 2006 ¨C 2020
International Trade Malaysia 2007
Liberalisation of Foreign Exchange Administration Policies
YB Encik Larry Sng Visited Chuan Ming Sdn Bhd
2007 New Appointed Consul-General in Kuching
Patron, Hon President, Advisors & SMA Council
2007 Budget Highlights - Tax Commentary
MIDA & MATRADE - Trade and Investment Mission
Lee Fah Mee Sdn Bhd HACCP Certificate Presentation Ceremony
Human Resources Development Berhad
Ready Built Factories for Sale and Rental
Certify Your Profession - Put Up Your Skill Badge
TOCC Accredited Kilang Ceria Alam
KKB & Sarawak Enterprise Sign MoU
Ministries of Agriculture Visited Sea Horse Co S/B
ISO 9001:2000 Recognition For Sarawak Slipways S/B
China Council for the Promotion of International Trade
Registration With MATRADE
Asia Pacific Natural Products Expo
Grant for Development and Promotion of Halal Product
Grant for Enhancing Product Packaging, Design and Labeling Capabilities of SMEs
The RosettaNet
WTO Agreement on Technical Barrier to Trade (TBT)
The SME Bank
The Amended Sarawak Labour Ordinance be enforced from 1 October 2005
Electronic Procurement System (ePerolehan)
Additional Incentives for the Manufacturing Sector for Sarawak
Conclusion of the Second National SME Development
Japanese Interested in Business Venture in Sarawak
Closer Economic Partnership Arrangement (Cepa)
The Industry R& D Grant Scheme (IGS)
Hong Kong Trade Development Council Trade Fairs
Assistance For Cleaner Production / Waste Treatment Projects Implementation
Sabah International Expo 2004
Financial Schemes Under MITI For Small And Medium Enterprises (SMEs)
Registration of SMIs with SMIDEC
Registration of Exporters with MATRADE
SESCO Connection Charge Guidelines 1/2003




Contact Us | Copyright © by SMA 2003 | Empowered by eD3