Graduate student Zhang Chuankun helps lab pinpoint laser frequency to drive timekeepers that could test foundations of physics
BUDGET 2025 , which will be tabled in Parliament on Oct 18, marks the last budget for the 12th Malaysia Plan . What fresh economic impetus to enhance the country’s competitiveness and future viability? What are the thematic priorities? How are citizens going to benefit?
There were concerns about recessionary fears in the US economy amid an imminent pivot to the US Federal Reserve’s interest rate policy in the third quarter of 2024. The US Presidential election in November could have significant economic and market uncertainties. China’s recovery remains a bumpy one due to the depressed property sector while managing ongoing trade tariffs war between China and the United States and Europe, which is likely to deepen post the US Presidential election.
We expect the government to aim for a lower fiscal deficit to GDP ratio of 3.8% for 2025 from the estimated 4.3% in 2024 on better federal revenue outturn and continued restraint in operation expenditure. It is commendable that sequential fiscal reforms have begun to ease fiscal pressure. Diesel subsidy rationalisation is the third measure.
>Tax incentives for employers to offset employees’ monthly wages to employers who voluntarily re-employ workers after the retirement age 60.While consumer inflation has lessened, but businesses are still swamped by price increases in materials and services. Measures to help small and medium enterprises manage rising costs:
On the e-invoicing implementation for all taxpayers in Malaysia, regardless of their annual turnover or revenue starting July 1, 2025, the Budget can consider making participation voluntary for micro-businesses with an annual turnover or revenue of RM300,000 and below.The budget will formalise the implementation of a global minimum tax rate of 15% based on the Global Anti-Base Erosion Rules Rules under Pillar Two in 2025.
GDP Inflation FBM KLCI Ringgit Income Tax
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