Malaysia: 2014 Budget announced

Global Watch ()
The recent 2014 Budget tabled by the Malaysian Government with the theme ‘Fulfilling Promises, Accelerating Transformation’ outlines several measures to reduce fiscal deficit. Specifically, the 2014 Budget introduces a new broad based consumption tax – the Goods and Services Tax (GST).

Outlined below are some key highlights from the 2014 Budget.  Global mobility program managers should assess how these measures will affect their assignees in Malaysia and prepare accordingly.