20/10/2023
大马财政预算案2024🇲🇾
🔥The Federal Government Budget for 2024🔥, unveiled by PM Anwar Ibrahim, amounts to RM393.8 billion. The key highlights are as follows:
📊Economic Outlook🧐
✅The government anticipates a 4-5% GDP growth in 2024.
✅The projected fiscal deficit for 2024 is 4.3%.
Rakyat Welfare👥
✅Various measures have been introduced to support citizens, including bonuses and incentives for public servants and pensioners.
✅Subsidies for electricity and housing, along with initiatives for volunteering, flood mitigation, and food security, have been allocated significant funds.
✅Programs like the My50 Unlimited Travel Pass and incentives for electric motorcycle usage are set to continue.
💸Taxation
✅The government plans to implement a 5-10% luxury tax, excluding foreign tourists.
✅SST is set to increase from 6% to 8%, with exemptions for the F&B and telco industries.
✅Capital Gains tax will be enforced at a rate of 10% starting from March 1, 2024.
✅Mandatory e-invoicing for taxpayers earning over RM100 million is slated for August 1, 2024.
🔥Infrastructure and Upgrades
✅Substantial allocations have been made for road and bridge repairs, legal reforms, government quarters, public toilet maintenance, and various other infrastructure projects.
✅Funds have been set aside for improving the palm oil industry, the LRT3 project, and ecological conservation.
🎭Arts, Tourism & Culture
✅Plans for the Next Visit Malaysia Year in 2026 have been announced.
✅Investments in tourism, heritage preservation, and the creative industry are prioritized.
✅Tax cuts and incentives aim to boost international entertainment events and local creative works.
🏢Business and Industry
✅The New Industrial Master Plan 2030 targets significant investments and job creation.
✅Support for startups, micro SMEs, and franchise expansion has been allocated.
✅Notable investments from TNB, Gentari, and Tesla Malaysia are earmarked for EV charging stations.
🏫Education
✅The education ministry is allocated RM58.7 billion, with provisions for school upgrades and affordable university entrance fees.
✅Funds are allocated for WiFi expansion in public universities, PTPTN loan discounts, and new preschools.
🏨Health
✅The health ministry receives RM41.2 billion in funding.
✅A sugar tax increase from 40 sen/liter to 50 sen/liter is introduced.
These allocations represent the government's strategic priorities for 2024, aiming to stimulate economic growth, enhance public welfare, and invest in key sectors.
