2000 BUDGET ISSUE


 
OTHER ISSUES
 
1. Accreditation and Certification of Skilled Construction Workers

The lists of skilled workers requiring accreditation and certification by the Construction Industry Development Board before they are allowed to work on a particular project have been expanded with effect from 1st July, 1999. The categories of skilled workers are given in Appendix I.


2. Workmen's Compensation

By virtue of the Workmen's Compensation (Foreign Worker's Compensation Scheme) (Insurance)(Amendment) Order, 1999, the workmen's compensation insurance premium for foreign workers has been reduced from RM96 to RM86 per annum with effect from 1st March, 1999.


3. Exit Levy on Repatriation of Portfolio Funds

Bank Negara Malaysia has announced on 21st September, 1999 that with immediate effect, the two-tier levy system introduced under the Exchange Control (Levy on Repatriation of Funds by Non-Residents) Regulations 1999 which came into force on 15th February, 1999 is replaced by a flat 10% levy on the profits realised and repatriated.




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