If you all did read my previous post regarding on Malaysia 2011 National Budget by Prime Minister Najib Razak, this is the time that all Malaysian should started to get be prepared for this coming tax hike.! So are you 6% tax ready.?
"Service tax rate will be increased from 5% to 6% with effect from 1 Jan 2011. This will impact quite a number of service industry as well as individual consumptions. This may be a temporary measure to increase government revenue while pending the implementation of Goods and Services Tax (GST). You may probably feel the effect of service tax increase, although some said marginal, in 2011 when you visit to the restaurants, or when you pay your telephone bills."
Click below to download the Malaysia Budget 2011 Speech, Appendices and Finance Bill (tax law amendments):
Budget 2011 Speech
Budget 2011 Appendices
Economic Report 2010/2011
Finance (No. 2) Bill 2010
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