Page 186 - Malaysia Baharu 2018
P. 186
SUMMARY OF MINISTRIES ACTIVITIES IN MINISTRY OF FINANCE
MALAYSIA
Presentation Of Budget 2019
For the first time Budget 2019 was tabled under the Government of Pakatan
Harapan by the Minister of Finance, YB Tuan Lim Guan Eng on 2 November 2018
at the Parliament of Malaysia. Budget 2019 focuses on three main areas:
implementing institutional reforms, ensuring the well-being of the people and
fostering a culture of entrepreneurial country.
Direct and indirect involvement of Treasury staff in the successful preparation of
the Budget 2019 started months earlier, beginning with the Budget Roadmap, the
2019 Budget Consultation and dialogues with focus groups in order to receive
feedback from the general public.
YB Tuan Lim Guan Eng presenting Budget 2019 at the Malaysian Parliament
Briefing Session On Sales And Service Tax (SST) With The Ministry Of
Finance
Sales and Service Tax (SST) came into effect on 1 September 2018 to replace
the Goods and Services Tax (GST). It was a successful Pakatan Harapan
Manifesto by setting a zero GST on 1 June 2018 and subsequently replacing
GST with SST. Implementing SST has a huge impact on businesses that have
directly reduced the burden of small and medium enterprises.
The Ministry of Finance through the Royal Malaysian Customs Department
(JKDM) conducted 18 briefing sessions on SST attended by 15,000
businessmen nationwide. The main objective of this briefing session was to
provide an understanding of the industry parties involved in implementing the
SST. On the other hand, it is a proactive measure by the JKDM to provide
effective information to ensure the implementation of SST runs smoothly. The
briefing session was attended and presented by YB Minister of Finance and
Director General of Royal Malaysian Customs Department with JKDM Senior
Management from 31 August 2018 to 29 September 2018.
184
MALAYSIA
Presentation Of Budget 2019
For the first time Budget 2019 was tabled under the Government of Pakatan
Harapan by the Minister of Finance, YB Tuan Lim Guan Eng on 2 November 2018
at the Parliament of Malaysia. Budget 2019 focuses on three main areas:
implementing institutional reforms, ensuring the well-being of the people and
fostering a culture of entrepreneurial country.
Direct and indirect involvement of Treasury staff in the successful preparation of
the Budget 2019 started months earlier, beginning with the Budget Roadmap, the
2019 Budget Consultation and dialogues with focus groups in order to receive
feedback from the general public.
YB Tuan Lim Guan Eng presenting Budget 2019 at the Malaysian Parliament
Briefing Session On Sales And Service Tax (SST) With The Ministry Of
Finance
Sales and Service Tax (SST) came into effect on 1 September 2018 to replace
the Goods and Services Tax (GST). It was a successful Pakatan Harapan
Manifesto by setting a zero GST on 1 June 2018 and subsequently replacing
GST with SST. Implementing SST has a huge impact on businesses that have
directly reduced the burden of small and medium enterprises.
The Ministry of Finance through the Royal Malaysian Customs Department
(JKDM) conducted 18 briefing sessions on SST attended by 15,000
businessmen nationwide. The main objective of this briefing session was to
provide an understanding of the industry parties involved in implementing the
SST. On the other hand, it is a proactive measure by the JKDM to provide
effective information to ensure the implementation of SST runs smoothly. The
briefing session was attended and presented by YB Minister of Finance and
Director General of Royal Malaysian Customs Department with JKDM Senior
Management from 31 August 2018 to 29 September 2018.
184
