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Malaysia National Budget 2010

The Prime Minister, YAB Dato' Sri Mohd. Najib Tun Abdul Razak, who is also the Minister of Finance, presented the 2010 Budget on Friday, 23 October 2009.

The 2010 Budget's theme is "1Malaysia, Together We Prosper" and will be the foundation for the development of the new economic model and the formulation of the 10th Malaysian Plan. In tandem with the 1Malaysia concept, the focus of this Budget is the well-being of Malaysians.

This Budget focuses on three strategies:
(1) Driving the nation towards a high-income economy;
(2) Ensuring holistic and sustainable development; and
(3) Focusing on the well-being of Malaysians.

These strategies include measures to more than double the per capita income of Malaysians in the next 10 years, ensure balanced development to narrow the gap between urban and rural areas and ensure Malaysians enjoys the benefits of development in a peaceful and safe environment.

2010 Budget Highlights:

(1) Deductions to small and medium enterprises (SMEs) for expenses incurred in the registration of patents and trademarks in Malaysia.

(2) Enhancement of exemption from 50% to 100% of the value of increased exports for health care service providers offering services to foreign clients in Malaysia.

(3) Introduction of income tax exemption equivalent to 100% of additional capital expenditure incurred to obtain Green Building Index certificate.

(4) Tax exemptions for insurance and takaful companies on profits of newly established overseas branches and income remitted by new overseas investee companies. This extension also applies to banks.

(5) Deduction on expenses incurred in the issuance of Islamic securities extended to Year of Assessment (YA) 2015.

(6) Extension of deduction for expenses incurred in the issuance of Islamic securities to include Islamic securities approved by the Labuan Offshore Financial Services Authority (LOFSA)

(7) Exemption on profits derived from non-RM sukuk approved by LOFSA.

(8) Extension of exemption of interest paid to individuals, unit trusts and listed closed-end fund on RM Islamic securities.

(9) Increase in personal relief for individuals from RM8,000 to RM9,000.

(10) Reduction of resident individual tax rate from 27% to 26% for chargeable income exceeding RM100,000.

(11) Reduction of non-resident individual tax rate from 27% to 26%.

(12) Relief of up to RM500 per year to individuals for broadband subscriptions.

(13) Preferential tax rate of 15% on employment income of resident knowledge workers engaged in qualifying activities and residing in Iskandar Malaysia.

(14) Reintroduction of Real Property Gains Tax at a rate of 5% tax on gains from the disposal of real property.

(15) Liberalisation of foreign ownership in corporate finance and financial planning companies. The present 30% local shareholding requirement will be removed.

(16) The Government announced that it is at the final stage of completing the study on whether to implement Goods and Services Tax.

For further details on 2010 Budget, please log on to:
http://bajet.treasury.gov.my

Posted Date: 16 Mar 2010

Issues List

Salary Guide, Starting Salaries for 160 Selected Skill-Based Jobs
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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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