Prime Minister and Finance Minister Dato' Sri Najib Tun Razak tabled the Budget 2012 in Parliament on Friday, 7 October 2011.
Several PwC tax analysts have analysed and commented on various topics relevant to the Budget.
- More efficient IRB seen
A new move announced for the 2012 Budget to compensate taxpayers for late income tax refund will ensure that the Inland Revenue Board speeds up the reimbursement process, says PwC Malaysia senior executive director Sakaya Johns Rani.
- People, businesses for downturn
The Budget 2012 should focus on the possible world economic downturn that will impact Malaysia. PwC Malaysia senior executive director SM Thanneermalai shares his views.
- Need for fairer tax treatment of developers
The property industry is facing many developments due to changes in the accounting landscape and strict tax regulations. PwC Malaysia senior executive director Steve Chia pinpoints some of the common issues faced by developers and recommends a few alternatives in light of the evolving tax rules affecting the property industry.
- Embracing GST to boost revenue
GST has been getting a lot of press lately, receiving mixed public opinion on tax reform. What can our current tax system tell us about Malaysia, and what needs to change by 2020 in order for us to become a developed nation? PwC Malaysia executive director Raja Kumaran and associate director Nicolaos Giannopoulos study the possibilities and the plus points of introducing a GST in Malaysia.