Budget 2017 Malaysia Summary

This is the malaysia budget 2017 results summary after malaysian prime minister najib razak presented the national budget 2017 in parliament announcing a total budget allocation of rm260 8 billion. Taken in its entirety budget 2017 contains a host of balanced measures to support malaysia s goal to achieve advanced and high income status. Budget 2017 allocates rm260 8bil up 3 4 from 2016 budget recalibration.

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The 2017 budget which allocates rm260 8 billion an increase of 3 4 from the 2016 budget.

Budget 2017 malaysia summary. Prime minister datuk seri najib razak s budget 2017 is one that attempts to cover broad strokes amid a constrained environment of uneven global economic growth low oil prices and ongoing fiscal consolidation. The following is the summary of highlights of malaysia budget 2017 which were announced in parliament. Budget 2017 was tabled by our prime minister dato sri najib tun razak in parliament on 21 october 2016. Corporate tax rate scheme for years of assessment 2017 and 2018 is a welcome and innovative measure to incentivize and reward companies which have achieved growth.

Goods and services tax to enable more disabled persons to benefit from the gst relief it is proposed that the relief be given to the valid oku card holders on the purchase of approved equipment from the suppliers designated by the social welfare department. Themed accelerating growth ensuring fiscal prudence enhancing well being of the rakyat the budget focuses on improving the wellbeing of the rakyat and is aimed at maintaining fiscal discipline amidst continuing economic uncertainties. Only 2 1 million income tax payers out of 14 6 million of. Budget stands at 260 8 billion ringgit 62 3 billion a rise of 3 4 pct from 2016 2017 revenue collection to expand around 3 pct to 219 7 bln rgt budget deficit expected at 40 3 bln rgt or.

The 2017 budget introduces a slew of measures geared towards alleviating the burden of the rakyat and stimulating the malaysian economy in the face of challenging economic times. Benefits for women children and islam. This article first appeared in corporate the edge malaysia weekly on october 24 30 2016. For breast feeding equipment to support working women.

Government expects to achieve 3 fiscal deficit in 2017. Budget 2017 s total allocation of rm260 8 billion is a slight 3 4 higher than the total. This budget saw an increase in allocation compared to the budget 2016 recalibration by 3 4 to rm260 8 billion. Though experts said that this latest budget covers a wide area of the economy many forecasts and items on the wish list did not materialised.

Malaysia budget 2017 has successfully been tabled by the prime minister datuk seri najib razak.