Trans-Pacific Partnership

What is TPPA?

It is a comprehensive free trade agreement covering a wide scope such as government procurement, labor, environment and state-owned companies.

4 February 2016, Malaysia and 11 other countries signed the Trans-Pacific Partnership in Aukland, New Zealand. 12 countries involved represent 40 percent of the world economy and broad market access to Malaysian businesses.

The 10 main benefits of the TPPA to Malaysia that you need to know:

1. Increase salaries for unskilled workers is projected to increase by 0.45-0.91 percent and 0.38-0.78 percent of skilled workers.

2. Policy and Bumiputera SMEs remain at status quo.

3. More than 90 percent of economic improvement contributed by step instead of the lower rate.

4. Exports are expected to increase outpaced the growth of imports, thus the trade surplus is expected to narrow to 4.3-5.2 per cent of GDP in 2027.

5. The sectors that contributed to 20 per cent of Malaysia's GDP in 2014 is expected to record higher growth in output, particularly the manufacturing sector.

6. The export-oriented companies will get benefit from access to a wider market.

7. States will benefit through access to government procurement, liberalization of the digital wider than the enforcement of the protection of trade secrets.

8. Malaysia's gross domestic product is projected to increase by US $ 107 billon to US $ 211 billion between 2018-2027.

9. Investment is projected to increase to US $ 239 billion between 2018-2027 - contributed to higher investment in the textile industry, construction and trade distribution.

10. Settlement of disputes investor (ISDS) may increase the cost to the government, but the protections already provided to handle the suit and protect the base, especially in the areas of health, safety and the environment.

what is Goods and Services Tax (GST)???

What is GST? GST is Goods and Services Tax, which is also known as VAT or the value added tax in many countries is a multi-stage consumption tax on goods and services. GST is the replacement of the Sales Tax (SST) (10%) and Service Tax (6%) in Malaysia. To develop the country monetarist system as well finding new sources of revenue by enhance the adeptness of tax collection the government takes one step by introduce GST. GST is imposed on the supply of goods and services at each phases of the supply chain from the supplier up to the retail phase of the distribution. The tax element does not become part of the cost of the product because GST paid on the business inputs is claimable, even though GST is imposed at each level of the supply chain.

What is contribution of GST towards the country? The government purposes to obtain about RM23.1 billion, with the implementation of the GST. This revenue is made to cover the cost of national development of RM49.5 billion will be channelled to infrastructure investment. As part of government attempt to rebuild the financial system, the GST will help us realize the objectives of the economy.

What is the advantage of GST?

GST is a transparent Tax and also reduces numbers of indirect taxes. With GST implemented a business premises can show the tax applied in the sales invoice. Customer will know exactly how much tax they are paying on the product they bought or services they consumed. Besides that, GST will not be a cost to registered retailers therefore there will be no hidden taxes and the cost of doing business will be lower. This in turn will help Export being more competitive. Next, GST can also help to diversification of income sources for Government other than income tax and petroleum tax. In addition, under Goods and Services Tax, the tax burden will be divided equally between Manufacturing and services. This can be done through lower tax rate by increase Tax base and reducing exemptions. In GST System both Central GST and State GST will be charged on manufacturing cost and will be collected on point of sale. This will benefit people as prices will come down which in turn will help companies as consumption will increase. Biggest benefit will be that multiple taxes like central sales tax, state sales tax, entry tax, license fees, turnover tax will no longer be present and all that will be brought under the GST.

What is the benefit that can GST offer to Malaysia consumers and business?

Improved standards of living: The revenue from GST could be used for development purposes for social infrastructure, like health facilities, institution, educational infrastructures, and public facilities to further improve the standard of living.

Lowing cost of doing business: under the current system, some businesses pay multiple taxes and higher level of cascading tax. With GST, businesses can benefit from recovering input tax, thus reducing cost of business.

Nation building: GST is a better and more efficient method of revenue collection revenue for the government. More funds can be channelled into nation-building projects for progress towards achieving a high income nation.

Fairness and equality: With the GST, taxes are imposed fairly among all the businesses involved, whether they are involve in manufacturing, wholesaling, retailing, or services sector.

Enhanced delivery system: GST will be administrated in fully computerized environment, therefore speeding up the delivery, especially for refund claims. This will make it faster, and more efficient and reliable.

Increase global competitiveness: As no GST imposed on exported goods and services, price of Malaysia exports will become more competitive on the global stage while GST incurred on inputs can be recovered along the supplies chain. This will make our export more strong, helping the country progress even further.

Enhanced compliance: The previous tax which is SST has many intrinsic weaknesses making administration difficult. GST system has in built mechanism to make the tax administration self-policing therefore will enhance compliance.

Reduces red tape: Under the previous tax which is SST, businesses must apply for approval to get tax-free materials and also for exemption for capital goods. Under the current tax system which is GST, this system is terminated as businesses can offset the GST on inputs in their returns.

Fair pricing to consumers: GST eliminates double taxation under SST. Consumers will pay fairer prices for goods and services compared to SST.

Greater transparency: consumer will benefit under GST as they will know exactly whether the goods and services they consume are subject to tax and the amount they pay for.

Types of GST

There are 3 types of GST, they are standard-rated GST, zero-rated GST, and exempt-rated GST. How standard-rated GST work Goods and services in this category will be charged a tax rate of 6% at every stage of the supply chain. Every party except the final consumer can claim back credits on the GST they already paid (known as input tax). The Category that put under standard-rated GST are groceries, food and beverages, fruits and vegetables, toys and games, house hold, medicine, garment, footwear, bag and accessories, stationaries, pets, hardware, kitchenware, health and beauty, and others. Next, zero-rated GST be apply Goods and services in this category will be charged a GST rate of 0%. This means that GST is not charged to the final consumer but businesses can claim back credits on their input tax. The category that put under zero-rated GST is groceries, food and beverages, fruits and vegetables, medicines, stationaries. Lastly, under exempt-rated GST, Goods and services in this category will be non-taxable and are not subject to GST. The final party in the supply chain can’t claim back credits on their input tax even if they might have incurred it. The category that put under exempt-rated GST is land, precious metals, financial services, transportation services, health care services, and educational services.

160 countries around the world have the GST as part of their revenue stream. Here are eight examples of how the GST is implemented in our neighbouring countries. The Singapore government revises GST during periods of high growth: 3% in 1994, 4% in 2003, 5% in 2004, and 7% in 2007. Singapore spent S$4 billion (US$3.1 billion over five years to offset GST. This offsets consisted of direct transfer benefits in the form of cash pay outs (GST credits, growth dividends, senior citizens’ bonuses). Next, CPF top-ups (post-secondary education account top-ups for students, Medisave top-ups for older Singaporeans). Lastly, rebates (on utilities and public housing services and conservancy charges.)

GOVERNMENT EFFORTS TO REALIZE VISION 2020

Vision 2020 is a goal that was introduced by Former Prime Minister of Malaysia which is Tun Dr. Mahathir, which aims to make Malaysia an industrialized nation and fully developed nation by the year 2020. To make these goals become true various programs have been introduced by the government to improve the economy and to make Malaysia a developed nation. To achieve the goal of becoming a high income nation Tenth Malaysia Plan was introduced. Tenth Malaysia Plan is a five year development plan for the period 2011-2015 Malaysia. That plan was presented by Datuk Seri Najib Razak on June 10, 2010 in Parliament. 10 great ideas have been formulated in the Tenth Malaysia Plan are as follows economy in runway by domestic factors, while taking into account the external environment, utilizing ethnic diversity to achieve success in the international arena, the transformation towards a high-income nation through specialization, successful growth led by productivity and innovation. Moreover, nurture, attract, and retain the best talent, ensuring equal opportunities and protecting the vulnerable, concentrated growth and inclusive development, supporting effective and smart growth, value growth environment, and government as a competitive , For the success of this plan the government has introduced various programs such as the Economic Transformation Programmed (ETP) and Government Transformation Programmed (GTP). Economic transformation program is a program run by the government to move Malaysia towards a high-income nation. For more information, economic transformation program gives focus to the 12 national key economic areas of agriculture, business services, education, electrical and electronics, financial services, health. Greater Kuala Lumpur and the Klang Valley, palm oil, gas and energy, communications and infrastructure, tourism, wholesale and retail. According to the plan, this program will enhance Malaysia's gross national income per capita of RM23,700 in 2009 to more than RM48000 in 2020. Among other goals of this program is to create over 3.3 million new jobs by 2020, covering the whole country, including urban and rural the city and we will be able to witness the transition to middle and high income earners. In addition, the Greater Kuala Lumpur / Klang Valley will be transformed into a world class city. The main goal of the Greater KL and Klang Valley is to enable the country's economic growth reached top-20 ranking of cities that have a strong economy. Among the achievements of the Economic Transformation Programmed is improvement project Commencement. In 2010 when the program was launched, there are 131 Entry Point Projects. In 2012 the Project Initiation increased to 152, covering 149 projects has been announced with a total investment of RM211.34 billion. Through this investment the country is expected to generate a Gross National Income amounted to RM135.64 billion in 2020 and is expected to create employment opportunities for 408.433. Moreover, the gross national income per capita also increased from US $ 6,700 in 2009 to US $ 99,700 in 2012. The figure mentioned represents an increase of 48.8 per cent in the last two years, is witnessing rapid economic instigate occurred through economic transformation program implemented by the government. If it does not come into force in things that are unexpected, Malaysia has the potential to achieve a gross national income per capita of US $ 15,000 ahead of 2020 as targeted. Another achievement to be proud of is that although the world economy is not stable but Malaysia's gross domestic product continued to achieve strong growth in 2011. For 2012, gross domestic product rose to 5.6 percent in 2011 increased to 5.1 per cent, while in 2010 it recorded growth of 7.2 per cent. Subsequently in 2013, the Economic Transformation Programmed has contributed RM7.4 billion in Malaysia's gross national income, managed to create 29.737 new jobs, and spur investment worth RM8 billion. All these activities have contributed to the increase in the gross national income per capita to US $ 10,060 in 2013. Malaysia's gross domestic product grew by 4.7 per cent despite the emerging markets hit by the uncertainty but Malaysian economy remained resilient. In addition, Malaysia also enjoyed an increase in investment over three years ago. Most encouraging increased private investment firm tripled to 15,313 per cent for the period between 2010 and 2013, compared with 4.7 per cent between 2008 and 2010. In addition, private investment in 2013 reached RM161.1214 billion, surpassing the initial target set at RM148.4 billion as high as 8.6 percent. Now move on to the achievement of economic transformation program in 2014, gross national income per capita rose from £ 30.809 to £ 34,123². The increase was driven by private sector investment of RM146³ billion. The mission to open as many as 3.3 million jobs is fast approaching the target as the government can create 1.8⁴ million jobs up to 2014. A few years earlier, we have witnessed great success in eradicating poverty. According to the latest data from the Department of Statistics, Malaysia (DOSM), only one percent of the population was living in poverty in 2014, compared with 3.8 percent in 2009. The percentage is very much different from the first record that is collected about poverty in Malaysia, when 49.3 percent, or almost half of the population classified as living in poverty is constitute a tremendous achievement and closer to the goal of becoming a high income nation. Economic Transformation Programmed showed a very encouraging achievement, this indicates that the program implemented by the government have helped Malaysia to boost the economy in turn lead Malaysia towards a high-income nation. GTP is a program introduced by the government and was presented by Datuk Sri Najib in April 2009. There are two objectives in the Government Transformation Programmed is the first of transforming government to be more effective in the delivery of services and is responsible for the success of a priority to the people and second, to spur Malaysia towards a developed society, united and fair with high standards of living for all. This is in line with the national mission to achieve Vision 2020. The program focuses on six key result areas of the State, namely reducing crime in the country, fighting corruption, improving student outcomes, raising living standards of low-income households, improving rural basic infrastructure, and City improve public transport. Such as the Economic Transformation Programmed, Transformation Plan also draws on the success of many of them in the street crime rate has decreased by 39.7% and the crime rate index dropped to 11.1%. For the first time Malaysia was recognized as the safest country in Southeast Asia and his fourth safest in the Asia Pacific region behind New Zealand, Japan and Australia have been confirmed by the fifth edition of the Global Peace Index 2011. When the crime rate reduced state and country become more secure this will increase the percentage of safety in the country's tourism sector would improve the country's economy. Furthermore, the government managed to improve the Living Standards of Low-Income Households (LIH). In addition, some 998,357 people living in remote areas of East and Peninsular Malaysia have been changed for the better in 2011 when they received a wide range of amenities such as roads, housing and clean water and electricity. Cumulatively this program has improved the lives of nearly 3.2 million Malaysians in rural areas in the last two years alone. In 2014 also demonstrated the effectiveness of this Government Transformation Programmed. Implementation of the National Key Result Areas (NKRA), which focuses on fighting crime successfully demonstrated the effectiveness when the crime rate dropped by 12.6 percent last year, the second highest decrease for the next five years. According to its 2014 annual report decreased levels of this index has surpassed the set target of five per cent each year and is measured by three major focuses of vehicle theft prevention, rehabilitation and upgrading of skills as well as rehabilitation of prisoners and drug use. In 2013, the Government continues to provide a range of assistance to the people in order to reduce the cost of living. Among them is help Rakyat 1Malaysia (BR1M) delivered to households with a monthly income of RM3,000 and below with cash assistance of RM500. This assistance is extended to single individuals aged 21 years and over with a monthly income less RM2 thousand a month with RM250 cash aid. An allocation of RM2.9 billion enjoyed more than 4.8 million households and 2 million singles in 2013. Through this program the government is also likely to provide financial assistance of RM100 to 5.2 million primary and secondary school students in 2013. The higher education institutions also benefit through this program where the 1Malaysia Book Voucher (BB1M) has been increased from RM200 to RM250. To further ease the burden of household expenditure, Kedai Rakyat 1Malaysia (KR1M) which offers a variety of products with lower price than the market increased by 40 units in 2013 to 125 KR1M whole. Even the price is the same KR1M goods between Peninsular and East Malaysia. A total of 70 Klinik 1Malaysia (K1M) has opened and operated in 2013 and bringing the total to 238 since 2010. K1M has provided treatment to 9.2 million patients since its implementation. Program Menu Rakyat 1Malaysia (MR1M), which also received increases of as much as 1,110 food handlers in 2013 bringing the total number of participants MR1M the country is of 4 thousand shops. Achievement showed very instigate next show the government's ability to bring Malaysia into a developed country. Finally, to achieve the goals of Vision 2020 several of programs carried out by the government. This shows that the government is working hard to improve the country's economy and make Malaysia a developed nation. As Malaysians, let us mobilize energy to be resident in the country that reached the level of developed countries.

our first PROGRAME.

Assalamualaikum semua. Hyeee.. lama glerrzz tak updated blog ni. Sapu-sapu sikit..hehe. Bersih dah!

Hari ni rasa macam nak menaip sesuatu, so hari ni saya nak kongsi cerita tentang pengalaman saya menjadi pengarah program buat pertama kalinya. Waktu pertama kalinya saya terima tawaran ni, saya rasa berat juga nak terima, lama juga la fikir sebab saya bukan jenis yang suka buat kerja berat-berat ni, kalau hanya AJK boleh la..hehe. Tapi disebabkan ini program pertama kelab kami iaitu Bpac, UPM dan saya sebagai vice president saya rasa bertanggungjawab untuk terima projek ni sebagai langkah pertama untuk memperkenalkan kelab kami. Untuk permulaan saya dan kawan saya perlu menyiapakan paperwork untuk dapat kelulusan Fakulti. Selepas pelbagai cabaran di tempuhi dua minggu sebelum program start baru dpt kelulusan. Jadi kami ad masa Seminggu tiga hari untuk assign AJK and buat kerja yang patut la untuk menjayakan program ni. Sebelum terlupa program ni diberi nama Seminar keusahawan teknik menjana pendapatan cara genY. Tajuk dia interesting kan? Alhamdulillah jumlah peserta melebihi target kami. Penceramah untuk program ni ialah En. Hasbul Aqill, CEO majalah niaga. Sangat2 menarik program yang dikendalikan oleh pihak Bpac dengan kerjasama ASL development ini. Ramai yang bagi feedback yang baik.Alhamdulillah. Tapi sayang saya sebagai pengarah program tak dapat dengar talk En. Hasbul dengan tenang sebab kena gerak sana sini. Penat gak la.. rasa kalau boleh tidur time tu tidur smpai tak sedarkan diri. Sebelum hari kejadian kami difahamkan wakil dari PKNS akan datang dan saya dan orang kuat saya perlu menjemput wakil dari UPM untuk turut serta tapi sayangnya Doctor-doctor kami busy jadi tak dapat nak stay lama.Alhamdulillah pihak dari ASL juga bagi kerjasama yang sangat baik. InsyaAllah kalau ada rezeki kami akan bekerjasama lagi. Alhamdulillah program bergerak dengan baik dan tamat dengan baik juga. Alhamdulillah. =).

Tamat dah....
lama tak menaip rasa kekok lak..haha. Tapi ini satu pengalaman baru untuk saya, dapat belajar benda baru, kenal pihak dari luar, bekerjasama dengan syarikat luar. Alhamdulillah Allah pilih saya untuk dapat pengalaman ini. Pihak dari ASL banyak kali cakap saya orang kuat, saya agak terkilan kerana saya tak berkesempatan untuk cakap pada mereka, saya kuat kerana ada yang menyokong saya dari belakang, bukan belakang je depan kiri kanan. Saya sebut la skit nama mereka Haikal dan Sarah terima kasih tolong saya dari awal sampai akhir. Juga kepada AJK yang terlibat kerana melaksanakan tugas dengan baik. Terima Kasih banyak-banyak. Akhir Kata korang memang perform la! hehe.
Salam sayang Dhiya

Akhir kata

Jangan takut untuk mencuba sesuatu yang baru.

Jangan berhenti belajar.

belajarlah sebanyak ilmu yang mungkin untuk memberi manfaat kepada orang lain.

InsyaAllah..betulkan niat Allah permudahkan segalanya.

^_^