2016 Pakatan Harapan alternative federal budget

2016 (2016) Alternative budget of the Malaysian Federal Government
Averting a crisis
Party Pakatan Harapan
Total revenue MYR208 billion
Total expenditures MYR238 billion
Program Spending MYR70.9 billion
Deficit MYR30 billion
(2.48% of GDP)
GDP MYR1,228.6 billion
Website Pakatan Harapan Alternative Budget 2016

The Malaysian alternative federal budget for the 2016 fiscal year was launched by Pakatan Harapan on 21 October 2015, two days before the Malaysian Budget Day, as a response to the government's federal budget.

Areas of direction

Some of the key items in the alternative budget were:

Total revenues and spending

Revenues

Revenue estimates for 2016 Alternative Budget, excluding 2016 tax measures

  Companies income tax (33.0%)
  Individual income tax (15.0%)
  Petroleum income tax (9.8%)
  PETRONAS dividend (9.6%)
  Excise duties from motor vehicles (4.3%)
  Stamp duty (3.7%)
  Petroleum royalty (2.6%)
  Excise duties from tobacco, cigarattes and cigars (1.9%)

(In million MYR)

Source Projected
Revenues
% of
Total Projected
Revenues
Direct tax
Income tax
Companies
Individual
Petroleum
Withholding
Co-operatives
Others
Other direct taxes
Stamp duty
Capital gains tax (proposed tax)
Real property gains tax
Others
135,571
123,399
68,830
31,265
20,480
2,430
369
25
12,171
7,723
3,500
852
96
65.1%
59.3%
33.0%
15.0%
9.8%
1.2%
0.2%
0.0%
5.8%
3.7%
1.7%
0.4%
0.0%
Indirect tax
Excise duties
Motor vehicles
Tobacco, cigarattes and cigars
Spirits and malt liquor
Others
Sales tax
Import duties
Others
CKD and CBU vehicles
Spirits and malt liquor
Tobacco, cigarattes and cigars
Other indirect taxes
Service tax
Export duties
Crude oil
Palm oil
Others
Levy
Goods vehicles
Oil palm fruit
Goods and services tax
26,784
14,396
9,016
3,974
1,402
3
2,890
2,865
2,217
533
82
33
2,715
1,943
1,824
1,646
175
3
152
152
0
0
12.9
6.9%
4.3%
1.9%
0.7%
0.0%
1.4%
1.4%
1.1%
0.3%
0.0%
0.0%
1.3%
0.9%
0.9%
0.8%
0.1%
0.0%
0.1%
0.1%
0.0%
0.0%
Non-tax revenue
Interests and proceeds from investments
PETRONAS dividend
Others
Bank Negara Malaysia dividend
Khazanah dividend
Licenses, registration fees and permits
Petroleum royalty
Motor vehicle licenses
Others
Levy on foreign workers
Other non-tax revenue
Service fees
Fines and penalties
Proceeds from sales of goods
Rentals
43,618
24,354
20,000
2,204
1,700
450
13,427
5,432
2,824
2,608
2,563
2,456
1,390
1,153
570
268
20.9%
11.7%
9.6%
1.1%
0.8%
0.2%
6.4%
2.6%
1.4%
1.3%
1.2%
1.2%
0.7%
0.6%
0.3%
0.1%
Non-revenue receipts 1,401 0.7%
Revenue from Federal Territories 894 0.4%
Grand Total Revenue 208,268

Expenditures by object

These tables are in million MYR.

Description Projected
Expenditures
Operating expenditures
Emoluments 64,995
Supplies and services 15,124
Assets 1,106
Fixed Charges and Grants 85,231
Other Expenditures 1,379
Total Operating Expenditure 167,835
Development expenditures
Direct Grant 65,741
Loans 3,175
Contingencies Reserve 2,000.0
Total Development Expenditure 70,916
Grand Total Expenditure 238,750

See also

References

  1. "Pakatan Harapan moots putting 1MDB into administration in alternative budget - Yahoo News Singapore". Retrieved 21 October 2015.
  2. "Pakatan’s budget proposes to wind up 1MDB - The Malaysian Insider". Retrieved 21 October 2015.
  3. "Pakatan to get Interpol help for return of ‘stolen’ money | Free Malaysia Today". Retrieved 21 October 2015.
  4. "Pakatan Harapan proposes separate PM and Finance Minister portfolios - The Rakyat Post - The Rakyat Post". Retrieved 21 October 2015.
  5. "'Extending Zeti's term will help stabilise economy' - Malaysiakini". Retrieved 21 October 2015.
  6. "Pakatan Gov’t will keep GST, zero-rate the tax | Free Malaysia Today". Retrieved 21 October 2015.
  7. "In alternative budget, Pakatan Harapan says will zero rate all GST items - Yahoo News Singapore". Retrieved 21 October 2015.
  8. "Ucapan Ketua Pembangkang di Majlis Pelancaran Belanjawan Pakatan Harapan 2016 | Selangorkini". Retrieved 21 October 2015.
  9. "Opposition’s alternative budget: No GST, no high-speed rail project | New Straits Times | Malaysia General Business Sports and Lifestyle News". Retrieved 21 October 2015.
  10. "Pakatan budget vows to scrap KL-S'pore high speed rail - Malaysiakini". Retrieved 21 October 2015.
  11. "In alternative budget, Pakatan Harapan says will zero rate all GST items - The Malaysian Insider". Retrieved 21 October 2015.
  12. "Pembangkang mahu kurangkan dividen Petronas kepada RM20b | Malaysia Gazette". Retrieved 21 October 2015.
  13. "Pembangkang kekalkan BR1M cuma ubah cara bayaran | Free Malaysia Today". Retrieved 21 October 2015.
  14. "Pakatan Harapan’s alternative budget focuses on East Malaysia | Portalkini". Retrieved 21 October 2015.
  15. "Alternative Budget 2016: Finance Minister post cannot be held by same person - Videos | The Star Online". Retrieved 21 October 2015.
  16. "Opposition’s alternate Budget to focus on closing East-West gap | Malaysia | Malay Mail Online". Retrieved 21 October 2015.
This article is issued from Wikipedia - version of the Thursday, January 28, 2016. The text is available under the Creative Commons Attribution/Share Alike but additional terms may apply for the media files.