... | | | | On what criteria have you decided that a paper is core/periphery. Core papers are: • Texts that acknowledge and discuss the problem statements of your research and discuss the reality of the related situation. • Texts that reflect on the link between areas of focus in research • Texts that discuss the various forms of the main theme. • Texts that explicitly discuss your topic of research Peripheral papers are: • Texts that provide definition and deep detail or discussion on one very specific aspect. • Texts that consider some isolated perspectives of your research. 2. Making Conceptual Framework State your research question and map out your literature domains.Try...
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...OVERVIEW Overview of GST GST (good and service tax), other words it also known as VAT (value added tax). It have implemented in many countries throughout the world. Currently there are 170 counties in the world that have implemented GST /VAT. NO REGION No of country 1 ASEAN 7 2 Asia 19 3 Europe 53 4 Oceania 7 5 Africa 44 6 South Africa 11 7 Caribbean, Central and North America 19 Table 1: No of countries implement GST/VAT Sources: Ministry of Finance GST is a multi-stage tax system, this is due to its nature which the tax is collected based on the supply of goods and services at each of the supply chain from the supplier to the retailer stage of the distribution. Even though GST is imposed at every stage of the supply chain, but the tax element will be not become a part of the cost of the product, because the GST paid on the business inputs is claimable as input tax. Where the business will pay the GST as output tax and claim for the input tax from the customs. In addition, it does not matter how many stages where a particular goods and services goes through the supply chain because the input tax incurred at the previous stage is always deductible by the businesses at the next in the supply chain. GST consider as a broad based consumption tax, which includes all sectors of the economy. In Malaysia the GST have been establish in a very clear manner, for example all goods and services made in Malaysia...
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...Malaysian government has implemented a new tax called Goods and Service Tax (GST) in 1st April 2015. What actually is GST? GST is a multi-level secondary tax imposed on local consumption or products. It is also acknowledged as Value-Added Tax (VAT) in other countries. Many other neighbor countries of Malaysia have already been implementing GST for a very long time. It is a wide based tax which will be taxed on what you have spent, and this will have an effect from all parties of the product from manufacturing to the very last stage sales. GST is charged based on a tax-on-value-add which escapes from tax repetition. GST have a different characteristics compared to the Sales and Service Tax (SST), which SST is only added one time. GST was firstly proposed by the government in 2011 to substitute the current SST, but was met with much opposition from the community, partially due to the effect of a price raise in essential goods, but also partly due to the deficiency of transparency around the current consumption tax systems in Malaysia. Not every goods are taxable from GST, most essential goods are exempted from being tax by GST and so the current Malaysia had implemented GST. The Government’s choice in implementing GST is correct, it is because the prices of crude oil have decrease more than 50% from a benchmark of USD100 per barrel in the year 2014. PETRONAS funds a certain sum of dividend to the government every year. The quantity of dividend paid is highly reliable on the global...
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...18wefqewfqewfqwefqwefqwefqwe fqwefqewfq 5wefqwefqwefqwefqwefqwefqwef Appendix 19qwefqwefqefqefqwefefwefweqfwefwqefwef 1. INTRODUCTION The Goods and Services Tax (GST) can be defined as a value-added tax that is levied on most goods and services sold for domestic consumption. The tax is implemented to provide revenue for the federal government. In Malaysia, the GST was scheduled to be implemented during the third quarter of 2011 but the implementation was delayed until the 1 st of April 2015. The Goods and Services Tax was tabled for the first time at the ‘Dewan Rakyat’ on 16 th of December 2009. Since there is a high number of criticism, it was delayed. On 25 th of October 2013, during the government’s reading of the National Budget 2014, the Malaysian Prime Minister, Dato’ Sri Najib Razak announced a GST tax of 6% will be implemented starting on the 1 st of April 2015 to replace the Sales and the Services tax. The implementation of the GST is a part of the government’s tax reform program to enhance the capability, effectiveness and transparency of tax administration and management. Since the government’s reading regarding GST in the National Budget 2014, there are a lot of reactions by Malaysians. Many of them were unhappy with the news and some of them are happy with the announcement of GST. Each party has their own thoughts and opinion in regards to the government’s implementation. In this report, we will present to you our findings for our study regarding...
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...THE PERCEPTION OF TAXPAYERS TOWARD GOODS AND SERVICES TAX (GST) IMPLEMENTATION IN MALAYSIA CHAPTER ONE - INTRODUCTION 1.1 Backgroud of Study Malaysian taxation system is generally divided into two, which are direct taxes and indirect taxes. Indirect taxes are controlled by the Royal Malaysian Custom Department (RMCD) and it consists of four components such as excise duties, customs duty, sales tax and service tax. Direct taxes are under the control of the Inland Revenue Board of Malaysia (IRBM). The IRBM is responsible for all policies relating to direct taxes such as income tax of individual and business, petroleum income tax, real property expansions tax, and stamp duty. From the government perception, taxation is a vital economic tool because it can be employed to regulate the economy, to invigorate economic growth through the granting of fiscal incentives as a principal aim of implementing tax policies and to provide funds for development projects (JeyapalanKasipillai, 2005). The contribution of direct taxes and indirect taxes to government revenue in 2009 amounted to RM78.375 billion (49.4%) and RM28.129 billion (1 7.73%), respectively. This shows that taxation contributes more than 60% to the Malaysian government revenue. Recently, the Malaysian government established the implementation of goods and services tax (GST) to replace Sales Tax and Services Tax (SST). The GST plan was first raised in 1988 but at the time it was considered unnecessary because the sales...
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... Pages | 1. Introduction to GST 4 1.1. Background Of Study 4 1.2 What is GST 6 1.3 Why is GST implemented 8 1.4 Difference between GST and SST 9 1.5 General operations of GST 10 1.5.1 Goods and Services Tax (Zero-rated supply) Order 2014 11 1.5.2 Goods and Services Tax (Exempt supply) Order 2014 132. Content 14 2.1 Effect of implementation of Goods Services Taxes (GST) in Malaysia 14 2.1.1 GST are regressive tax or progressive tax? 14 2.1.2 Effect of implementation of GST on inflation based on CPI 16 2.1.3 Effect of implementation of GST on the household income 19 2.2. Impact of GST on sub regions of Malaysia ...
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...towards Implementation of GST in Kuala Lumpur and Johor Bahru CHAPTER ONE – INTRODUCTION 1.1 Background of the Study The production of a good or service, in general, goes through several stages before the final product or service reaches the consumer. To illustrate, if the production and distribution process is divided into three basic stages of manufacturing, wholesaling and retailing, value is added at each stage through further processing, packing or other improvements before it reaches the consumer via the retailer. The GST is a tax on the value added to the output or service at each stage of the process. In its generic form, the GST is a value-added tax (VAT). These terms are used interchangeably in this note. A multi-stage tax like the GST protects tax collections through two built-in features. First, the multi-point collection and invoice trail minimizes tax avoidance and tax evasion. This is because the need to issue and obtain invoices to claim tax deductions for taxes imbedded in inputs from a previous stage of the production chain fosters greater compliance. Second, the GST is better able to protect revenue from tax evasion by retailers as compared to a single-stage sales tax imposed solely at the retail sales tax (RST). This feature, however, comes with greater administrative and compliance costs. 1.2 Problem Statement The introduction of GST in Malaysia has called...
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...Introduction The idea of introducing a flat consumption based Goods and Services Tax (GST) in Malaysia has been floated since 1989. It now seems as though this may become a reality in the 2014 Budget, with implementation beginning within 18 to 24 months at an initial rate of 4 % on the supply chain. The plan to overhaul the tax system has begun to gain momentum as the government deals with an increasingly weak economic outlook, combined with global uncertainty. While not at the emergency levels of many advanced Western European economies, Malaysia has not run a structural budget surplus since the Asian Financial Crisis hit in 1997. Federal government debt as a percentage of Gross Domestic Product (GDP) currently sits at 55.4 %.1 For the time being, this is manageable, but it is the government’s ability to reign this spending in, as well as lack of budgetary reform that has led ratings agency Fitch to downgrade Malaysia’s credit outlook to negative this year. The government’s recent 20 sen cut to the fuel subsidy and increasing speculation of a GST framework to be included in the upcoming budget can be seen as evidence that they are trying to remedy both structural and cyclical economic challenges. Furthermore, for far too long there has been an overdependence on the revenue generated from oil and gas dividends, which currently account for over a third of total government revenues. 2 A GST offers a single unified system where the tax burden is equally shared between the services...
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...IMF Country Report No. 15/58 MALAYSIA March 2015 2014 ARTICLE IV CONSULTATION—STAFF REPORT; PRESS RELEASE; AND STATEMENT BY THE EXECUTIVE DIRECTOR FOR MALAYSIA Under Article IV of the IMF’s Articles of Agreement, the IMF holds bilateral discussions with members, usually every year. In the context of the 2014 Article IV consultation with Malaysia, the following documents have been released and are included in this package: The Staff Report prepared by a staff team of the IMF for the Executive Board’s consideration on February 13, 2015, following discussions that ended on November 24, 2014, with the officials of Malaysia on economic developments and policies. Based on information available at the time of these discussions, the staff report was completed on January 23, 2015. An Informational Annex prepared by the IMF. A Press Release summarizing the views of the Executive Board as expressed during its February 13, 2015 consideration of the staff report that concluded the Article IV consultation with Malaysia. A Statement by the Executive Director for Malaysia. The document listed below has been or will be separately released. Selected Issues Paper The policy of publication of staff reports and other documents allows for the deletion of market-sensitive information. Copies of this report are available to the public from International Monetary Fund Publication Services PO Box 92780 Washington, D.C. 20090 Telephone: (202)...
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...Table of Contents 1.0 Introduction of Shangri-La Hotel 3 2.0 Shangri -la Hotel existing Vision, Mission, Goals and Objective 4 2.1 Proposed new Vision and Mission 5 2.1.1 Vision 5 2.1.2 Mission 5 3.0 Shangri-La Hotel Internal and External Environment 7 3.1 Internal Assessment: Strength 7 3.2 Internal Assessment: Weaknesses 9 3.3 External Assessment: Opportunities 10 Growing Airline Industry 10 3.4 External Assessment: Threats 12 Increasing in Competitors 12 4.0 IFE, EFE and CPM Matrix 15 4.1 IFE Matrix 15 4.2 EFE Matrix 16 4.3 Company Profile Matrix (CPM) 17 5.0 SWOT Matrix, IE Matrix, and QSPM 18 5.1 SWOT Matrix 18 5.2 IE Matrix 19 5.3 QSPM 20 6.0 Recommendation on Specific Strategies 21 7.0 Shangri-La Hotel Financial Position (EPS-EBIT Analysis) 22 7.1 Common Stock Financing 23 7.2 Debt Financing 23 7.3 60% common stock - 40% debt financing 24 7.4 40% common stock - 60% debt financing 24 8.0 Strategy Evaluation 27 9.0 Conclusion 30 10.0 References 31 1.0 Introduction of Shangri-La Hotel Shangri-La Hotels (M) Berhad is an investment holding company and also a public limited company. This company was incorporated on June 29, 1971 and currently having a total of 2364 employees. Its headquarters is located at the Batu Ferringhi Beach, Penang. This company is engaged with the operations of services such as hotels and beach resorts, golf course and clubhouse, property management and investment and commercial laundry....
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...2.0 Introduction The banking industry has undergone tremendous changes after the Asian Financial Crisis in year 1997. CIMB bank, as a major player in this industry, has faced a lot of challenges from local and international. As a growing bank in that time, CIMB bank has struggled hardly to become the best financial institution in Malaysia. In recent years, the government has liberalized the banking industry, which allows more foreign financial institutions to start their business here. This has increased the level of competition within the industry and in fact, has affected the position of CIMB bank as one of the leading banks in local market. Owing to certain problems mentioned above, we have chosen CIMB bank as the topic to perform in-depth research and analysis on the organization. Our main objective is to advise the Board of Directors of CIMB bank on the impact and implications of current developments and challenges on its organization and make appropriate recommendations to ensure the continued relevance, competitiveness and growth of the organization. CIMB bank has many retail branches across the ASEAN and operates under several corporate entities such as CIMB Investment Bank, CIMB Islamic, CIMB Securities International and etc. Besides, CIMB bank business model basically covers several areas which are Consumer Banking, Insurance & Takaful, Corporate & Institutional Banking and CIMB Thai. (CIMB, 2012) The vision of the CIMB bank is to be the Premier Investment...
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...chng@maybank-ib.com What’s New Industry loan growth was 10.0% YoY in Apr 2014, with household (HH) loans expanding at a more moderate 11.6% YoY in Apr 2014 vs 11.7% YoY in Mar 2014, while non-HH loan growth was a slower 7.9% YoY vs 8.3% YoY in Mar 2014. Positively, cumulative PDS issuances to date are 4.5% higher versus the same period last year. Also positive is the fact that industry fundamentals remain solid, with an all-time low gross NPL ratio of 1.8%, strong loan loss coverage at almost 105%, stable interest spreads and a stable loan/deposit ratio at 85%. What’s Our View Banks have become more selective in their approval of residential property loans but demand is likely to hold up due to: (i) expectations of higher property prices post GST; and (ii) prevailing negative real rates that will encourage investors to seek an inflation hedge. Whether this will prompt further property measures remains to be seen. Overall loan approval rates continue to soften while application trends have yet to see a meaningful rebound at this stage. We maintain our 2014 industry loan growth forecast of 9.8% comprising household and non-HH loan growth of 10.2% and 9.3% respectively. Banking sector – Peer valuation summary Stock Rec Shr px (MYR) AMMB CIMB HL Bank Maybank * Public Bank RHB Cap Simple avg MC-wtd BIMB HLFG BUY HOLD BUY NR SELL HOLD 7.34 7.34 13.88 9.88 21.60 8.40 Mkt cap (MYR m) 22,124 60,403 24,967...
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...1.0 Introduction: Retail Pharmacy Background There are about 8,632 registered pharmacists and 2,000 community pharmacies which is also known as retail pharmacies in Malaysia. Out of the registered phamacists, 5,288 are in the government sector while 3,344 are in the private sector (Ministry of Health Malaysia Health Facts, 2012). The ratio of pharmacist to Malaysia population is about 1: 3,355. Both Penang and Klang valley areas consists of 56% of retail pharmacies in Malaysia. To operate a retail pharmacy, the pharmacist shall need to register A-license or known as poison license in order to be able to sell prescription medicines under the Sales of Drugs Act 1952 and the Pharmacist Registration Act 1951 (revised 1989). In Penang, a total of 344 A-license are issued in 2009 which contributed to about 11.5% of total A-license applicants in Malaysia. The retail pharmacy market is currently dominated by bigger and organized chain pharmacies such as Guardian Pharmacy (382 outlets), Watsons Group (260 outlets), Caring Pharmacy (73 outlets), Constant Pharmacy (12 outlets), Aeon Wellness (12 outlets) and Georgetown Pharmacy (11 outlets). (The Star, 2012, 2014). Retail pharmacies are the bridge for consumers to obtain medication drugs, over-the-counter (OTC) drugs, health supplements, health support products and others such as organic health food which could be categorized as a specialty shop. Retail pharmacies also carries fast moving consumer goods such as toiletries, personal...
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...pART 1 NEW ECONOMIC MODEL FOR MALAYSIA NEW ECONOMIC MODEL FOR MALAYSIA pART 1 High Income Rakyat Quality of Life Inclusiveness Sustainability NEAC National Economic Advisory Council Level 5 & 11, Menara Usahawan Persiaran Perdana, Precinct 2 Federal Government Administrative Centre 62652 PUTRAJAYA MALAYSIA NATIONAL ECONOMIC ADVISORY COUNCIL NEAC www.neac.gov.my NEAC NATIONAL ECONOMIC ADVISORY COUNCIL CHAPTRE NEW ECONOMIC MODEL F O R M A L AY S I A 1 Part I: Strategic Policy Directions Copyrights Reserved All rights reserved. No part of this publication may be reproduced, stored in retrieval system or transmitted in any form or by any means electronic, mechanical, photocopying, recording and/or otherwise without the prior permission of: Secretary National Economic Advisory Council Level 5 & 11, Menara Usahawan Persiaran Perdana, Precinct 2 Federal Government Administrative Centre 62652 PUTRAJAYA Tel.: 03-8888 6512/ 8888 6513 Fax: 03-8888 4638/ 8888 4177 Email: secretariat.neac@pmo.gov.my www.neac.gov.my Sales copies are obtainable from: Percetakan Nasional Malaysia Berhad Jalan Chan Sow Lin 50554 Kuala Lumpur Tel.: 03-9236 6888 Fax: 03-9222 4773 Email: cservice@printnasional.com.my __________________________________ Cover design and layout by Percetakan Nasional Malaysia Berhad Preface This report is the first of two documents by the National Economic Advisory Council (NEAC) on the New Economic Model (NEM). This report presents...
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...ANNUAL REPORT Building A Global Brand What’s the value in a brand name? Everything. A brand that is reputable and stands apart from others provides competitive advantage, confirms credibility, adds value to a company and ensures long lasting customer relationships. As an organisation that has been around for more than three decades, the DRB-HICOM name is one that needs no introduction. It is an organisation that prides itself on always staying ahead of the game, in setting high standards in all its endeavours and constantly challenging the status quo. With a portfolio of more than eighty operating companies in its stable, the Group’s diversity elevates it to a brand with unique character and promise. PROTON, Alam Flora, PUSPAKOM, Pos Malaysia, MODENAS, Bank Muamalat, Glenmarie Properties – these are some of the household names that form a part of the DRB-HICOM Group. From the Automotive and Services sectors to the Property, Asset and Construction sector, DRB-HICOM’s operating companies have always had a strong presence in the local market. Helmed by bold leadership and imbued with core values, strong work ethics and a vision to be number 1, the DRB-HICOM brand is well-positioned to go a step further to become a leading global brand in the future. OUR VISION to be number 1 and continuously excel in all that we do OUR MISSION to lead in the growth of the nation in the areas of DRB-HICOM’S core businesses SHARED VALUES excellence decorum teamwork integrity...
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