CTIM Perak INFORMATION BOARD: January 2013

CTIM Perak 2013 Budget Talk - 25 October 2012

CTIM Perak’s 2013 Budget Seminar was held on 25 October 2012.

Malaysia’s Finance Minister and Prime Minister , Datuk Seri Najib TunRazak tabled the 2013 Budget proposals at the Dewan Rakyat on 28 September 2012. The theme of the speech was “Prospering the Nation, Enhancing Well-being of the Rakyat: A Promise Fulfilled”.

For the 2013 Budget, an amount of RM201.9 billion has been allocated for operating expenditure while for development expenditure; the amount allocated is RM49.7 billion. On the revenue side, the Federal Government is expected to generate RM208.6 billion. Based on the estimated revenue and expenditure, the Federal Government deficit in 2013 is expected to improve to 4% of GDP as compared with 4.5% in 2012.

The Budget focused on five key areas:-

Boosting investment activity;

Strengthening education and training;

Inculcating innovation, increasing productivity;

Fiscal consolidation and enhancing the public service delivery; and

Enhancing the well-being of the Rakyat

Among notable proposals were:-

The Government introduced proposals that essentially provide for two new business structures, namely the limited liability partnership (“LLP”) and the business trust, to be given the same tax treatment as a company.

For the rakyat, it has been proposed that with effect from YA 2013, the resident individual income tax rates will be reduced by 1% point for chargeable income bands up to RM50,000.

The event was well covered by the local press:

UTAR Career Talk 18 July 2012

Career talk by committee member and former Branch Chairman of CTIM Perak, Mr Loo Thin Tuck, at UTAR on 18 July 2012:-

Courtesy call to LHDN Taiping May 2012

Gala Dinner held in conjunction with the Perak Tax Forum 2012

The organising committee of CTIM Perak Branch has come together again to realise this event which serves as a common ground to foster fellowship amongst its members.

Extract of message from the Branch Chairman, Mr Chak Kong Keong:

Being the body responsible for matters concerning taxation in this country, CTIM’s members serve a very significant portion of the taxpayers in the country. They also play an important role in acting as a bridge between the Inland Revenue Board, Royal Malaysian Customs and the taxpayers in efficiently disseminating tax information and providing guidance to complying the legislation. With such an important and responsible role in the Malaysian economy, CTIM is obliged and committed to ensure that our members are well informed of the latest development as well as changes in legislations and regulations.

For this objective, CTIM Perak has done its part by organising this forum cum dinner for the second time in Ipoh, Perak to cater for the needs of its members while extending an invitation to the other professional or commerce bodies and interested members of the general public in Ipoh.

I would like to take this opportunity to thank all our sponsors, donors and supporters who have contributed towards making this event a success. My sincere thanks go out to my committee members and CTIM HQ for their commitment, effort and time rendered towards the organisation of this event. A special not of thanks also goes to my organising chairman of the forum and gala dinner, Mr Lam Weng Keat and Ms Connie Wan, respectively.

The Guest of Honour, Mr Lew Nee Fook, sharing his views:

Pictorial highlights of the Gala Dinner:

Show time:

The Gala Night comes to an end.

A Big Thank You and Terima Kasih to ALL who have taken the time and effort to participate in this memorable day in the history of CTIM Perak Branch!!