2016 Pakatan Harapan alternative federal budget

None October 2015 June 2026 Alternative budget of the Malaysian Federal GovernmentAverting a crisis 2016 Malaysia Pakatan Harapan MYR208 billion MYR238 billion MYR70.9 billion MYR30 billion(2.48% of GDP) MYR1,228.6 billion 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: Implementing the capital gains tax since this is also being implemented in 127 countries, including all European countries which are part of the OECD. Implementing the inheritance tax since many OECD members already implemented. Restructuring of 1Malaysia Development Berhad (1MDB) by putting the firm into administration and prosecuting wrongdoers.https://sg.news.yahoo.com/pakatan-harapan-moots-putting-1mdb-administration-alternative-budget-064200830.html Pakatan Harapan moots putting 1MDB into administration in alternative budget - Yahoo News Singapore 21 October 2015http://www.themalaysianinsider.com/malaysia/article/pakatans-budget-proposes-to-wind-up-1mdb Pakatan's budget proposes to wind up 1MDB - The Malaysian Insider 21 October 2015 https://web.archive.org/web/20151025005054/http://www.themalaysianinsider.com/malaysia/article/pakatans-budget-proposes-to-wind-up-1mdb 25 October 2015 dead dmy-allhttp://www.freemalaysiatoday.com/category/nation/2015/10/21/pakatan-to-get-interpol-help-for-return-of-stolen-money/ https://web.archive.org/web/20151022200425/http://www.freemalaysiatoday.com/category/nation/2015/10/21/pakatan-to-get-interpol-help-for-return-of-stolen-money/ dead 22 October 2015 Pakatan to get Interpol help for return of 'stolen' money | Free Malaysia Today 21 October 2015 Separation of Prime Minister and Finance Minister portfolios to avoid excessive concentration of power held by one individual.http://www.therakyatpost.com/news/2015/10/21/pakatan-harapan-proposes-separate-pm-and-finance-minister-portfolios/ Pakatan Harapan proposes separate PM and Finance Minister portfolios - The Rakyat Post - The Rakyat Post 21 October 2015 Support extension of Zeti Akhtar Aziz's term as Bank Negara Malaysia governor by two more years.https://www.malaysiakini.com/news/316547 'Extending Zeti's term will help stabilise economy' - Malaysiakini 21 October 2015 21 October 2015 For a short term, keeping Goods and Services Tax (GST) system by zero-rating all items to mitigate inflation.http://www.freemalaysiatoday.com/category/nation/2015/10/21/pakatan-govt-will-keep-gst-zero-rate-the-tax/ https://web.archive.org/web/20160304053805/http://www.freemalaysiatoday.com/category/nation/2015/10/21/pakatan-govt-will-keep-gst-zero-rate-the-tax/ dead 4 March 2016 Pakatan Gov't will keep GST, zero-rate the tax | Free Malaysia Today 21 October 2015 https://sg.news.yahoo.com/alternative-budget-pakatan-harapan-says-063159102.html In alternative budget, Pakatan Harapan says will zero rate all GST items - Yahoo News Singapore 21 October 2015 21 October 2015 To set up a petroleum endowment fund for East Malaysians.http://bm.selangorku.com/83441/ucapan-ketua-pembangkang-di-majlis-pelancaran-belanjawan-pakatan-harapan-2016/ Ucapan Ketua Pembangkang di Majlis Pelancaran Belanjawan Pakatan Harapan 2016 | Selangorkini 21 October 2015 The Kuala Lumpur-Singapore high speed rail (HSR) project funds will instead be reallocated to building a rail network in Sabah and Sarawak.http://www.nst.com.my/news/2015/10/opposition%E2%80%99s-alternative-budget-no-gst-no-high-speed-rail-project Opposition's alternative budget: No GST, no high-speed rail project | New Straits Times | Malaysia General Business Sports and Lifestyle News 21 October 2015https://www.malaysiakini.com/news/316553 Pakatan budget vows to scrap KL-S'pore high speed rail - Malaysiakini 21 October 2015 21 October 2015 Offset the loss of GST income by making MYR30 billion in savings by stamping out "wastage and corruption", and also by shutting down several state-linked corporations.http://www.themalaysianinsider.com/malaysia/article/in-alternative-budget-pakatan-harapan-says-will-zero-rate-all-gst-items In alternative budget, Pakatan Harapan says will zero rate all GST items - The Malaysian Insider 21 October 2015 https://web.archive.org/web/20160304062626/http://www.themalaysianinsider.com/malaysia/article/in-alternative-budget-pakatan-harapan-says-will-zero-rate-all-gst-items 4 March 2016 dead dmy-all Reducing PETRONAS dividend to MYR20 billion.http://www.malaysiagazette.com/ms/nasional/pembangkang-mahu-kurangkan-dividen-petronas-kepada-rm20b Pembangkang mahu kurangkan dividen Petronas kepada RM20b | Malaysia Gazette 21 October 2015 September 2019 InternetArchiveBot yes Revamping cash handouts such as Bantuan Rakyat 1Malaysia (BR1M) to be conditional on employment and school attendance; the low-income parents must work and send their children to schools.http://www.freemalaysiatoday.com/category/bahasa/2015/10/21/pembangkang-kekalkan-br1m-cuma-ubah-cara-bayaran/ Pembangkang kekalkan BR1M cuma ubah cara bayaran | Free Malaysia Today 21 October 2015 https://web.archive.org/web/20151022200201/http://www.freemalaysiatoday.com/category/bahasa/2015/10/21/pembangkang-kekalkan-br1m-cuma-ubah-cara-bayaran/ 22 October 2015 dead Focusing more on agriculture because the country's agricultural policies were “backward, if compared with other countries”; it is necessary to give the subsidies directly to the farmers and also provide a subsidy for the price of rice.http://www.portalkini.net/2015/10/15/pakatan-harapans-alternative-budget-focuses-on-east-malaysia/ Pakatan Harapan's alternative budget focuses on East Malaysia | Portalkini 21 October 2015 https://web.archive.org/web/20151015234135/http://www.portalkini.net/2015/10/15/pakatan-harapans-alternative-budget-focuses-on-east-malaysia/ 15 October 2015 dead Parliamentary oversight of sovereign wealth funds for greater accountability, accountability and full independence of regulators which include the Malaysian Anti-Corruption Commission (MACC), Attorney-General of Malaysia, Bank Negara Malaysia and Parliament of Malaysia.http://www.thestar.com.my/Videos/2015/10/21/Alternative-Budget-2016-Finace-Minister-post-cannot-be-held-by-same-person/ Alternative Budget 2016: Finance Minister post cannot be held by same person - Videos | The Star Online 21 October 2015 Focus in bridging the economic activities' gap in Peninsular Malaysia and those in Sabah and Sarawak.http://www.themalaymailonline.com/malaysia/article/oppositions-alternate-budget-to-focus-on-closing-east-west-gap Opposition's alternate Budget to focus on closing East-West gap | Malaysia | Malay Mail Online 21 October 2015 Total revenues and spending Revenues Revenue estimates for 2016 Alternative Budget, excluding 2016 tax measures Companies income tax 33.0 #447C70 Individual income tax 15.0 #A1C490 Petroleum income tax 9.8 #006000 PETRONAS dividend 9.6 #00FF99 Excise duties from motor vehicles 4.3 #00A000 Stamp duty 3.7 #A8F96C Petroleum royalty 2.6 #648029 Excise duties from tobacco, cigarattes and cigars 1.9 #D5E9CF (In million MYR) Source ProjectedRevenues % of Total ProjectedRevenues 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. DescriptionProjectedExpenditures 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 Reactions January 2016 See also 2016 Malaysian federal budget References Category:Malaysian budgets Category:13th Parliament of Malaysia Category:2015 in Malaysian politics Pakatan Harapan alternative federal Category:2015 in Malaysian law