Malaysia – The Dewan Rakyat unanimously approved the Finance Bill 2021 recently. When concluding the discussion on the bill, Deputy Finance Minister I Datuk Mohd Shahar Abdullah said that a research on the abolition of the tax exemption on foreign-sourced income had been conducted two years ago. He said that it required the ministry to interact with connected parties, including …

The regulation of Lembaga Tabung Haji (TH) under Bank Negara Malaysia (BNM) is an interim solution and will not change the original nature of TH as a superior agency especially in the management of pilgrims to fulfil the fifth pillar of Islam as stipulated under the Tabung Haji Act 1995 (Act 535), the Ministry of Finance (MoF) said. It said …

Malaysian Anti-Corruption Commission (MACC) has detained the former Prasarana non-executive chairman Datuk Seri Tajuddin Abdul Rahman yesterday over two charges of power abuse. It has been reported by various news portals that after the arrival of the Pasir Salak MP together with the UMNO election director at the MACC headquarters, he has been detained for the recording of his statement …

The degenerate practices will hamper Indonesia’s undertakings to turn into a country with big league salary, pride, and level of public government assistance, Finance Minister Sri Mulyani Indrawati expressed it to the public. In view of this, forestalling degenerate practices and building an exhaustive enemy of debasement framework will extraordinarily decide if a country can proceed with its excursion to …

SINGAPORE – An total of $2,000 in Covid-19 assistance was earned by each member of a Singaporean household, about 70% of which came from the broad-based Care and Support Plan, the Ministry of Finance (MOF) said on Thursday (Feb 11). On average, each household earned around $4,000 from broad-based programs, much of which came in the form of cash transfers, …

It was never easy to improve the economy in this trying times but the Minister of Finance Sri Mulyani Indrawati highlighted that there were many reasons behind the government’s decision to set up the Investment Authority of Indonesia, including the need to boost public health and infrastructure. In order to improve the wellbeing of the Indonesian people, the government needs …

The Ministry of Industry is proposing a new car tax exemption to increase the national automotive industry’s enthusiasm. This proposal expected to last until the end of 2020. Minister of Industry Agus Gumiwang Kartasasmita directly expressed the proposal. He proposed relaxing the tax on new car purchases by 0% or reduce motor vehicle taxes (PKB). “We have proposed to the …

It seems that digital companies based in the United States (US) that operate in several countries including Indonesia, such as streaming services Netflix, social media Facebook, digital music streaming Spotify, also giant e-commerce Amazon, cannot yet be charged digital tax in the near future. This was stated by Minister of Finance Sri Mulyani who said that Indonesia and the major …

The World Bank has raised the status of Indonesia from a middle-income country to an upper-middle income country. The increase in status was granted after based on the latest World Bank assessment, the Gross National Income (GNI) per capita of Indonesia in 2019 rose to USD4,050 from the previous position of USD3,840. Rahayu Puspasari, Head of the Ministry of Finance’s …

The Ministry of Finance plans to issue state debt securities (SUN) specifically for overseas diaspora or diaspora bonds by the end of 2020. It is expected that the issuance can be carried out around November 2020 if the relevant ministry ministries are ready. This Diaspora bond has become one of the government’s moves to meet the funding needs of Covid-19 …