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Budget 2004

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digimushu Male
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  #11 Old 08-09-2004 Default


Argh, thats the good thing in M'sia last time...u only pay what the price tag is, now its gonna be 5-6% more...damn
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  #12 Old 08-09-2004 Default

Originally Posted by gal_flower
from wad i heard, a new tax will be introduced--VAT (Value Added Tax). It works almost the same as the sales tax that Singapore and the States has...meaning that goods will be taxed as well. All goods except for 'barangan keperluan' like sugar, rice etc. consequently, income tax will be reduced. but this introduction may only be official in two years time because the people needs to get use to the idea of payin tax for their goods...
Like GST in Singapore and Australia.

GST = Go Squeeze Them
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  #13 Old 09-09-2004 Default

I guess one thing that the government would do would be to increase the budget of agricultural and agro-industry, higher education, biotech, crime prevention which seems to be the crux of current administration. However, I do believe that the entire budget would not be expansionary, as _earth mention that the government is going to reduce the defisit. Perhaps a 2-3% deficit of GDP would be a good step ahead.
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  #14 Old 09-09-2004 Default

What's the current deficit level?

From what I understand, the economic growth from the past 5 years were boosted a lot by government spending (i.e. fiscal policy)
that resulted in bigger deficits. That's a nicer way of saying that the government artifically boosted GDP growth and in the process racked up big debts.

The VAT tax should be a good idea to encourage people to increase savings, but I'm not an expert on that issue to give detailed comments on the pros and cons. Anyone here doing economics relating to VAT/GST flat taxes?

There has been an idea to simplify the American tax law to tax only those earning $150,000 or more a year on a single flat bracket, and use VAT taxes to cover the rest of the tax revenue. This would increase savings (which in America is currently too low), but would also additional burden to the poor since they spend all their disposable income on buying goods (compared to the richer people who have extra money to save).
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  #15 Old 09-09-2004 Default

I am not sure what's the current level of the Malaysian deficit. In fact, I think the official level for this quarter, let alone this year, has not been report yet. But if I remember correctly, the projected deficit for 2004 was 4.5% of the GDP.

More on deficit, with the govt subsidizing gas and at the same time, the gas price has been relatively high, the deficit should balloon up.
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  #16 Old 11-09-2004 Default

The highlights of the Budget 2005 :-

Full text of the budget:-
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  #17 Old 11-09-2004 Default

do u guys know that our country still owes money for the Commonwealth Games? yup...the debt is still not paid up...n tad was approx 6 years ago...
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  #18 Old 12-09-2004 Default

Since the topic now is Budget 2005, I close the this thread. and I open a new one on Budget 2005.

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