Govt Needs To Find New Revenue To Address Gst Removal Says Bank



StanChart says new measures in the Budget 2019, such as higher real property gains tax and sugar tax, will only provide slight support to revenue. (Reuters pic)KUALA LUMPUR: The Budget 2019 shows a lack of sustainable revenue measures being proposed to address the shortfall in revenue after the goods and services tax (GST) was replaced with the sales and service tax (SST), according to Standard Chartered (StanChart)
It said expenditure rationalisation and leveraging of assets are short-term measures
The leveraging of assets includes raising RM4 billion from selling a 30% stake of the Airport Real Estate Investment Trust that the government intends to set up
In the more immediate term, the government may still have to find new revenue measures to address the removal of GST, in addition to enhancing tax compliance, it said in its “on the ground” Global Research note today in response to the proposals in the Budget 2019 announced yesterday
Reliance on oil has also been proven to be vulnerable to the swings in global commodity markets while other new measures in the Budget 2019, such as higher real property gains tax and sugar tax, will only provide slight support to revenue, it said
Nevertheless, it is comforting that the government has noted in its medium-term fiscal framework that non-petroleum revenue is still expected to remain the largest revenue source, it added
According to StanChart, the new government has maintained a fiscal consolidation stance. The increased transparency of the fiscal balance sheet, with the settlement of income tax and GST refunds, were positive
As for fiscal reforms, among others, the government will be establishing a Debt Management Office to review government debts and liabilities while the Fiscal Responsibility Act is to be proposed by 2021 to avoid uncontrolled spending
Meanwhile, the slow fiscal consolidation could add to the risk of negative rating action as the new government intends to lower its fiscal deficit to 3.0% only by 2020
The 2018 fiscal deficit estimate of 3.7% and the 2019 fiscal deficit forecast of 3.4% are significantly higher than the previous government’s forecasts
“We think the slower-than-expected fiscal consolidation increases the risk of negative rating action, especially by Moody’s (A3 stable) and Fitch’s (A- stable)
“These agencies were expecting Malaysia to maintain the fiscal consolidation trend despite the dent in revenue from the replacement of GST by SST,” it explained
As for forex, StanChart said the Budget announcement was unlikely to be a positive trigger for the ringgit
Portfolio inflows remain subdued in the months ahead of the budget announcement as foreign investors preferred to wait for more policy clarity from the new administration

“However, with wider-than-expected fiscal deficit targets and risks of negative rating action, we think it is unlikely that portfolio inflows will pick up meaningfully unless broader risk sentiment reverses,” it said in maintaining its short-term neutral forex weighting on the ringgit. - FMT

Artikel ini hanyalah simpanan cache dari url asal penulis yang berkebarangkalian sudah terlalu lama atau sudah dibuang :

http://malaysiansmustknowthetruth.blogspot.com/2018/11/govt-needs-to-find-new-revenue-to.html?utm_source=feedburner&utm_medium=feed&utm_campaign=Feed%3A+MalaysiansMustKnowTheTruth+%28Malaysians+Must+K

Kempen Promosi dan Iklan
Kami memerlukan jasa baik anda untuk menyokong kempen pengiklanan dalam website kami. Serba sedikit anda telah membantu kami untuk mengekalkan servis percuma aggregating ini kepada semua.

Anda juga boleh memberikan sumbangan anda kepada kami dengan menghubungi kami di sini
We Are Ready To Take Back Govt Says New Sabah Coalition

We Are Ready To Take Back Govt Says New Sabah Coalition

papar berkaitan - pada 24/10/2018 - jumlah : 224 hits
Sabah opposition leaders today joined forces to form an alliance called Gabungan Bersatu Sabah Announcing this here today Parti Bersatu Sabah president Joseph Pairin Kitingan said the alliance comprises PBS Sabah Umno Solidariti Tanah Airku...
Shafee Says Gleeful After Seeing Absurd New Charges Against Najib

Shafee Says Gleeful After Seeing Absurd New Charges Against Najib

papar berkaitan - pada 25/10/2018 - jumlah : 246 hits
Tan Sri Muhammad Shafee Abdullah lambasted the prosecution over the six charges filed against client Datuk Seri Najib Razak today describing these as nonsensical and nebulous in nature The senior private practitioner told the court that the...
Federal Govt Revenue Forecast At Rm261 8b For 2019

Federal Govt Revenue Forecast At Rm261 8b For 2019

papar berkaitan - pada 2/11/2018 - jumlah : 279 hits
Tax revenue continued to be a key component of the overall estimated revenue for 2019 at RM176 2 billion Federal government revenue including the special Petronas dividend is forecast at RM261 8 billion or 17 1 per cent of the Gross Domesti...
New Govt Must Learn From Mistakes Of Previous Administration Sultan Nazrin

New Govt Must Learn From Mistakes Of Previous Administration Sultan Nazrin

papar berkaitan - pada 4/11/2018 - jumlah : 257 hits
Sultan Nazrin Shah 8211 Bernama file photo KUALA KANGSAR Sultan of Perak Sultan Nazrin Shah reminded the new ruling government to learn from the mistakes of the previous administration as the people are ready to reject leaders who abuse the...
Putrajaya Limits New Taxes Turns To Petronas To Cover Gst Hole

Putrajaya Limits New Taxes Turns To Petronas To Cover Gst Hole

papar berkaitan - pada 2/11/2018 - jumlah : 278 hits
BUDGET 2019 Putrajaya will not be introducing major new taxes under Budget 2019 despite a reduction in revenue due to the abolition of the Goods and Services Tax There were some measures such as the introduction of a sugar tax and an increa...
Tycoon Defends New Home Ownership Scheme After Najib Says Something Fishy

Tycoon Defends New Home Ownership Scheme After Najib Says Something Fishy

papar berkaitan - pada 8/11/2018 - jumlah : 284 hits
EdgeProp Sdn Bhd chairman Tong Kooi Ong PETALING JAYA The property portal behind FundMyHome a new home ownership scheme that came under scrutiny over its financing method said the initiative does not require any government funding concessio...
Thank Najib For Semi Aborted Interview Says Kit Siang

Thank Najib For Semi Aborted Interview Says Kit Siang

papar berkaitan - pada 29/10/2018 - jumlah : 273 hits
DAP parliamentary leader Lim Kit Siang has urged Malaysians to show their gratitude to former prime minister Najib Abdul Razak over the latter s interview with Al Jazeera on Friday The interview he said saw Najib admitting for the first tim...
Two Term Limit Ok But Not For Sarawak Sabah Says Activist

Two Term Limit Ok But Not For Sarawak Sabah Says Activist

papar berkaitan - pada 28/10/2018 - jumlah : 290 hits
A Sarawak activist says only the people of Sarawak have the right to decide on the state s constitution KOTA KINABALU A Sarawak activist says that a proposal to limit the tenure of chief ministers to two terms is against the state s constit...
We Need To Build Trust Says Liew Chin Tong On 40 Umno Mps Joining Bersatu

We Need To Build Trust Says Liew Chin Tong On 40 Umno Mps Joining Bersatu

papar berkaitan - pada 28/10/2018 - jumlah : 309 hits
The Umno Members of Parliament who want to join Parti Pribumi Bersatu Malaysia may not necessarily be accepted by the party The Deputy Defence Minister Liew Chin Tong said the prospect of many Umno MPs joining Bersatu has fuelled talk that ...
Ngo Kebajikan Banyak Membantu Rakyat Malaysia

Pakw Calculator

Remaja Malaysia Dipenjara Seumur Hidup Di Uk Taksub Alat Penukul Dan Pembunuhan

Using Predictive Analytics To Enhance Forex Market Timing For Malaysian Traders

Got Back Pain Time To Straighten Up

Banjir Rakyat Asing Di M Sia Apa Teruk Sangat K Jaan Ni

Speed Read The New Royal Enfield Bear 650 Scrambler And More

Tips Memasak Sayur Supaya Lebih Sedap Dan Berkhasiat


echo '';
Biodata Terkini Penyanyi Illa Sabry Peserta Gegar Vaganza 2024 Musim 11 GV11

Info Dan Sinopsis Drama Berepisod Senyawa iQIYI Malaysia

Info Dan Sinopsis Drama Berepisod Project Projek Exit Astro Originals

Pelajari Asal Usul Nama Makhluk Seram Kisah Fiksyen Barat Yang Terkenal

10 Fakta Filem Kahar Kapla High Council Yang Ramai Tak Tahu Prekuel Drama Project Projek High Council


7 Sunnah Bayi Baru Lahir Hingga Usia 7 Hari

Kips Bay Decorator Show House Dallas 2024 An Exquisite Showcase Of Design

China S President To Host Official Dinner For Anwar

I Bought A Toy Like Vape Online Mp Tells Dewan Chamber

Drama One Cent Thief 2 Lakonan Syafiq Kyle Azira Shafinaz

Rasa Masakan Korea Soondubu Jigae Beef Di Dubuyo