Friday, October 23, 2009

Malaysia Budget 2010: Highlights


1. Tax relief for broadband subscription fee.  
Govt proposes individual taxpayers be given tax relief on broadband subscription fee up to RM500 a year from 2010 to 2012 

2. Personal income tax to be reduced by 1%.

3. Govt to allocate RM899m for tourism industry in 2010, attract more participants from UK, Japan, Korea under Malayia, My Second Home.
4. Govt to speed up implementation of high speed broadband at total cost of RM11.3b,of which RM2.4 billion is from government and RM8.9 billion from Telekom Malaysia.

5. Govt to allocate RM9b for infrastructure, of which RM4.7b for road, bridge, water, sewerage projects and RM900 million for rail.

6. Govt to look into micro insurance, takaful coverage. Premiums from as low as RM20 per month for small traders, coverage from RM10k to RM20k.

7. Flexible brokerage sharing btwn stockbrokers, remisers. Flexible brokerage at 40% for remisiers. To be fully liberalised in second stage by Jan 1, 2011.


 8. Allow 100pct foreign equity stake in corporate finance, financial, planning companies from at least 30pct local stake now.

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