Changes in Tax rate

http://www.mof.gov.bn/attachments/article/223/Siaran%20Akhbar%20Perubahan%20Kadar-Kadar%20Cukai%20(Eng).pdf

In this amendment there are a few changes to customs and excise rates. to be honest I never knew the different between customs duty and excise tax, I thought they come hand in hand. apparently there is a distinction.

Summary:

  • reduction of import and excise duites, to improve industry, t
  • increase price of sugary drinks
  • increase in price of plastics to promote¬†recycling
  • increase in tax rates for mobile phones, leather and fur skin products, video games.
  • assitance for mothers in terms of disposable diapers and breast pumps.

 

His Majesty’s Titah During the MMN

attached is a PDF that made its rounds in whatsapp groups I had.

Key points were

  • International Free Trade Zone
  • SME Bank
  • and for the speakers to be courageous in expressing feedback

TITAH HM 2017