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National Budget 2019

YB Tuan Lim Guan Eng, Minister of Finance tabled the National Budget 2019 on Friday, the 2 November 2018 in Parliament.

Budget provides a total allocation of RM314.5 billion (compared to RM290.4 billion in 2018) with RM259.8 billion allocated for operating expenditure and RM54.7 billion for development expenditure.

Some Budget 2019 highlights include tax rate for SMEs will be reduced to 17 per cent from 18 per cent, targeted petrol subsidies, an increased minimum wage along with many perks for first-time homeowners and the B40.

As expected, some new taxes were introduced as well, including on sugary drinks, overseas travel and casino licences.

Key highlights:

1. Government will introduce a credit system for sales tax deductions from 1 January 2019 to avoid double-taxing and lower business costs.

2. Government proposes that services that are imported be imposed a service tax from 1 January 2019 to ensure fair competition for local service providers.

3. Government will launch a special Voluntary Disclosure Programme for taxpayers to declare whatever income not reported.

4. Under SST, nearly 10 times more items exempted from sales tax.

5. Departure levy proposed for all international outbound air passengers from 1 June 2019.

6. The government has allocated RM210 million from 2019 to 2021 to encourage the move to Industry 4.0.

7. The tax rate for companies with a taxable income of up to RM500,000 and SMEs with a paid up capital of less than RM2.5 million will be reduced to 17 per cent from 18 per cent.

8. Minimum wage to increase to RM1,100 nationwide starting 1 January 2019.

9. Government to introduce excise duty at 40 sen per litre on two categories of sugary drinks, starting 1 April 2019

10. RM2 billion proposed to encourage investment in green technology industries.

Please click HERE for National Budget Speech 2019.

Please click HERE for further information on National Budget 2019.


Posted Date: 6 Jan 2019

Issues List

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

 

 

 


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