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Earlier companies eligible for the PH incentive could opt for the 10% tax rate only on income over and above the money they made the year before joining the programme, according to a MIDA official.
National standard format is yyyy-mm-dd. [161] dd.mm.yyyy format is used in some places where it is required by EU regulations, for example for best-before dates on food [162] and on driver's licenses. d/m format is used casually, when the year is obvious from the context, and for date ranges, e.g. 28-31/8 for 28–31 August.
In Malaysia, the corporate tax rate is now capped at 25%. Nevertheless, a company eligible for a certain tax incentive might only pay an average effective tax rate of 7.5%, with only 30% of the company's profit being subjected to tax. This is a good example of how the companies benefit through the incentives provided by the Malaysian Government.
Its purpose was to replace the sales and service tax which has been used in the country for several decades. The government is seeking additional revenue to offset its budget deficit and reduce its dependence on revenue from Petronas, Malaysia's state-owned oil company. The 6% tax will replace a sales-and-service tax of between 5–15%. [4] [5]
The budget, unveiled in Parliament on Friday, forecast economic growth will inch up to 4.8% from 4.7% this year as the U.S.-China trade war casts a shadow over global growth.
The 2015 Budget completes the 10th Malaysia Plan; The 11th Malaysia Plan will be launched in May 2015; A new approach, known as the Malaysian National Development Strategy, is being formulated; Budget 2016 will be the trigger to the final five years of Malaysia's progress to a high-income advanced economy by 2020
A leading zero is optional in practice, but is mostly not used. Chinese characters that mean year, month, and day are often used as separators (e.g. 2006年1月29日). Since the characters clearly label the date, the year may be abbreviated to two digits when this format is used.
For ranges, if "to present" or "–present" is used, the current year (or, in cases where necessary, date) of "present" at the time of writing should be included. Thus 1982–present (as of 2024) – if writing in 2024 – is preferable to 1982–present. If the "from" date has an internal space, a spaced en dash is used.