Budget Proposals




Budget Proposals

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5

 

Air conditioners, refrigerators and televisions that are manufactured locally are subject to excise duty. These products are facing competition with those of the ASEAN countries. In line with the implementation of AFTA/CEPT, it is proposed that excise duty on these products be abolished with effect from the Budget Day:

Tariff Code

Description

Present Excise Duty

(RM)

Proposed Rate

(RM)

84.15 Air conditioning machines, comprising a motor driven fan and elements for changing the temperature and humidity, including those machines in which the humidity cannot be separately regulated

6% or RM30.00 each w.i.t.h.

Nil

8415. 10 000 - Window or wall types, self contained

6% or RM30.00 each w.i.t.h.

Nil

8415.81  

 

 

8415.81 900

8415.82

8415.82 900

8415.83

8415.83 900

84.18

8418.10

8418.10 110

8418.10 120

8418.10 900

8418.21

8418.21 110

8418.21 120

8418.21 910

8418.21 990

8418.22


8418.22 100

8418.22 200

8418.29

8418.29 110

8418.29 120

8418.29 910

8418.29 990

8418.30

8418.30 100

8418.30 900

8418.40

8418.40 100

8418.40 900

8418.50 000

8418. 61

8418. 61 100

8418. 61 900

8418.69

8418.69 100

8418.69 900

85.28

8528.12

8528.12 119

8528.12 129

8528.13

8528.13 119

8528.13 120

- Other:

- - Incorporating a refrigerator unit and a valve for reversal of the cooling/heating cycle:

other

- - Other, incorporating a refrigerator unit:

other

- - Not incorporating a refrigerator unit:

other

Refrigerators, freezers and other refrigerating or freezing equipment, electric or other, heat pumps other than air conditioning machines of heading No. 84.15.

- Combined refrigerator-freezers, fitted with separate external doors:

Electrically operated:
not over 350 litres

over 350 litres

Other

- Refrigerator, household type:
- - Compression-type:

Electrically operated:
not over 350 litres

over 350 litres

Other:
not over 350 litres

over 350 litres

- - Absorption-type, electrical:

not over 350 litres

over 350 litres

- - Other:
Electrically operated:

not over 350 litres

over 350 litres

Other:
not over 350 litres

over 350 litres

- Freezers of the chest type, not exceeding 800 litres capacity:

domestic

other

- Freezers of the upright type, not exceeding 900 litres capacity:

domestic

other

- Other refrigerating or freezing chests, cabinets, display counters, showcases and similar refrigerating or freezing furniture

- Other refrigerating or freezing equipment heat pumps:
- - Compression-type refrigerating units whose condensers are heat exchangers:

domestic

other

- - Other:

domestic

other

Reception apparatus for television, whether or not incorporating radio broadcast receivers or sound or video recording or reproducing apparatus; video monitors and video projectors.

- Colour

Television receivers:
mains operated:

other

battery operated:

other

- Black and white or other monochrome:

Television receivers:
mains operated:



others

battery operated (with screen of over 41.6 cm)

6% or RM30.00each w.i.t.h.







10% or RM50.00
each w.i.t.h.










6% or RM30.00
each w.i.t.h.

7% or RM35.00
each w.i.t.h.

7.5% or RM38.00
each w.i.t.h

4% or RM20.00each w.i.t.h.

7% or RM35.00each w.i.t.h.

4% or RM20.00each w.i.t.h.

7.5% or RM38.00
each w.i.t.h.

4% or RM20.00each w.i.t.h.

7% or RM35.00each w.i.t.h.

4% or RM20.00
each w.i.t.h.

7% or RM35.00
each w.i.t.h.

4% or RM20.00
each w.i.t.h.

7.5% or RM38.00
each w.i.t.h.

6% or RM30.00each w.i.t.h.

7.5% or RM38.00
each w.i.t.h.

6% or RM30.00
each w.i.t.h.

7.5% or RM38.00
each w.i.t.h.

7.5% or RM38.00
each w.i.t.h.










6% or RM30.00
each w.i.t.h.

7.5% or RM38.00
each w.i.t.h.

6% or RM30.00
each w.i.t.h.

7.5% or RM38.00
each w.i.t.h.












10%

10%


10%

10%









Nil

Nil












Nil

Nil

Nil

Nil

Nil

Nil

Nil

Nil

Nil








Nil

Nil

Nil

Nil

Nil




Nil

Nil

Nil

Nil












Nil

Nil






Nil




Nil























Nil






Nil

Nil

Nil



 
6
 

 

Present Position

 

Currently, income tax is assessed on the income earned in the preceding year and is assessed by the Inland Revenue Board (IRB) according to the Official Assessment System.

Proposal

As a measure to modernize and streamline the tax administration system, it is proposed that:

  1. the assessment of income tax based on the income received in the preceding year be changed to that of the current year beginning the year 2000;
  2.  
  3. income received in 1999 be waived from income tax;
  4.  
  5. losses incurred in 1999 be allowed to be carried forward; and
  6.  
  7. the present assessment system that is based on the Official Assessment System be changed to the Self-Assessment System in stages as follows:

 

Group       Year of Implementation
Companies       2001
Businesses, partnerships and cooperatives       2003
Salaried group       2004

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