2014 Malaysian federal budget

Last updated

2014 (2014) Budget of the Malaysian Federal Government
Supply Bill 2014
Presented25 October 2013
Parliament13th
Party Barisan Nasional
Finance minister Najib Razak
Treasurer Ministry of Finance
Total revenueMYR224.0 billion
Total expendituresMYR264.1 billion
Program SpendingMYR46.5 billion
Debt paymentMYR23.2 billion
Deficit MYR37.1 billion
(3.5% of GDP)
DebtMYR519.3 billion
(53% of GDP)
GDP MYR826.0 billion
(5.0-5.5%)
Website www.najibrazak.com/bajet2014/
  2013
2015  

The Malaysian federal budget for 2014 fiscal year was presented to the Dewan Rakyat by Prime Minister and Minister of Finance, Najib Razak on Friday, 25 October 2013.

Contents

Summary

Cash handouts

Real property gains tax

Affordable homes

Tax relief

Goods and sales tax

Corporate tax

Income tax

Subsidies

Improving budget management

Islamic finance

Agriculture

Logistics

Aviation

Public investments

Internet access

Total revenues and spending

Revenues

Revenue estimates for 2016 Budget, excluding 2016 tax measures

  Companies income tax (29.3%)
  Interests and proceeds from investments (14.3%)
  Individual income tax (12.8%)
  Petroleum income tax (12.6%)
  Excise duties (6.0%)
  Licenses, registration fees and permits (5.9%)
  Sales tax (4.9%)
  Services tax (3.0%)
  Stamp duty (3.0%)

Official source

(In million MYR )

SourceProjected
Revenues
 % of
Total Projected
Revenues
Actual
Revenues
Direct tax
Income tax
Companies
Individual
Petroleum
Withholding
Co-operatives
Others
Other direct taxes
Stamp duty
Real property gains tax
Others
133,148
125,664
65,729
28,746
28,275
2,524
370
20
7,484
6,693
703
88
59.4%
56.1%
29.3%
12.8%
12.6%
1.1%
0.2%
0.0%
3.3%
3.0%
0.3%
0.0%
Indirect tax
Excise duties
Sales tax
Services tax
Other indirect taxes
Import tax
Export tax
Levies
38,822
13,442
10,986
6,810
2,827
2,502
2,105
150
17.3%
6.0%
4.9%
3.0%
1.3%
1.1%
0.9%
0.1%
Non-tax revenue
Interests and proceeds from investments
Licenses, registration fees and permits
Other non-tax revenue
Service fees
Fines and penalties
Proceeds from sales of goods
Rentals
50,627
32,065
13,149
1,970
1,233
1,064
913
233
22.6%
14.3%
5.9%
0.9%
0.6%
0.5%
0.4%
0.1%
Non-revenue receipts8520.4%
Federal territories revenue6450.3%
Grand Total Revenue224,094

Expenditures by object

Official sources [ permanent dead link ]

These tables are in million MYR.

DescriptionProjected
Expenditures
Actual
Expenditures
Operating expenditures
Emoluments63,610.0
Supplies and services36,622.8
Assets1,408.6
Fixed Charges and Grants114,505.4
Other Expenditures1,504.1
Total Operating Expenditure217,651.0
Development expenditures
Direct Grant41,512.8
Loans2,987.2
Contingencies Reserve2,000.0
Total Development Expenditure46,500.0
Grand Total Expenditure264,151.0

Expenditures by budget function

Official source [ permanent dead link ]

These tables are in million MYR. The budget for the 2014 fiscal year (also demonstrating the basic budget structure) can be found below. [1]

FunctionDescriptionProjectedActual
ExpendituresOperating
Expenditures
Development
Expenditures
Expenditures
1 Parliament 86.786.7
2 Office of the Keeper of the Rulers' Seal 2.22.2
3 Audit Department 169.1169.1
4 Election Commission 83.083.0
5 Public Services Commission 54.154.1
6 Prime Minister's Department 16,450.65,869.610,580.9
7 Public Service Department 2,225.52,181.643.9
8 Attorney General Chambers 197.4197.4
9 Malaysian Anti-Corruption Commission 297.5297.5
10 Treasury 4,627.53,266.51,361.0
11 Treasury General Services 34,574.434,574.4
12Contribution to Statutory Funds2,916.92,916.9
13 Ministry of Foreign Affairs 846.8641.8205.0
20 Ministry of Plantation Industries and Commodities 2,031.71,318.5713.2
21 Ministry of Agriculture and Agro-based Industry 6,035.04,367.41,667.6
22 Ministry of Rural and Regional Development 9,832.15,724.44,107.8
23 Ministry of Natural Resources and Environment 2,486.01,112.11,373.9
24 Ministry of International Trade and Industry 1,290.4601.1689.3
25 Ministry of Domestic Trade, Co-operatives and Consumerism 1,172.31,131.440.9
27 Ministry of Works 6,191.52,605.53,586.0
28 Ministry of Transport 5,221.11,311.13,910.0
29 Ministry of Energy, Green Technology and Water 2,101.7135.71,965.9
30 Ministry of Science, Technology and Innovation 1,353.3734.8618.5
31 Ministry of Tourism and Culture 1,503.51,219.6283.9
32 Ministry of the Federal Territories 1,775.3504.81,270.5
40 Education Service Commission 16.816.8
41 Ministry of Education 54,600.650,565.54,035.1
42 Ministry of Health 22,160.420,498.11,662.3
43 Ministry of Urban Wellbeing, Housing and Local Government 3,914.62,371.31,543.2
45 Ministry of Youth and Sports 753.9579.8174.1
46 Ministry of Human Resources 1,422.2847.7574.5
47 Ministry of Communications and Multimedia 2,046.31,452.9593.4
48 Ministry of Women, Family and Community Development 2,159.12,052.1107.0
60 Ministry of Defence 16,100.213,355.32,744.9
62 Ministry of Home Affairs 12,607.813,355.3647.0
70 Contingency fund 2,000.02,000.0
Total Functional Expenditure221,307.7174,807.746,500.0
DependentDescriptionProjectedActual
ExpendituresOperating
Expenditures
Development
Expenditures
Expenditures
(1)Royal spending for the Yang di-Pertuan Agong 13.513.5
(2)Royal allowances1.81.8
(3)Chief Justice, Chief Judges, Judges100.1100.1
(4)Auditor General0.70.7
(5)Speaker of the Dewan Rakyat1.31.3
(6)President of the Dewan Negara1.31.3
(7)Election Commission1.61.6
(8)Law Services Commission0.050.05
(9)Public Services Commission10.410.4
(10)Education Services Commission3.83.8
(11)Police Force Commission1.41.4
(12)Treasury5,407.85,407.8
(13)Payment for public debt23,185.923,185.9
(14)Pensions, retirement allowances and rewards14,113.614,113.6
Total Dependent Expenditure42,843.342,843.3
Grand Total Expenditure264,151.0

Supplementary supply bill

On 24 March 2014, the Government tabled the Supplementary Supply (2013) Bill 2014 to seek for an additional expenditure for services for the year 2013 amounting to MYR2.392 billion (MYR2,392,077,572). [2] Deputy Finance Minister Ahmad Maslan tabled the bill for the first reading at the Dewan Rakyat.

A total of 12 ministries, departments and agencies had applied for the supplementary expenditure which is an allocation to the Statutory Fund amounting to RM2,099,876,700; Public Service Department (RM55.6 million); Prime Minister's Department (RM53.4 million) and the Ministry of Works (RM50 million). In addition, the supplementary expenditure also involved the Ministry of Communications and Multimedia; Foreign Ministry; The Agriculture and Agro-based Industry Ministry; Home Ministry; and the Ministry of Energy, Green Technology and Water. The other ministries included the Ministry of Natural Resources and Environment; Science, Technology and Innovations Ministry; and the Ministry of Urban Wellbeing, Housing and Local Government. [3]

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References

  1. "www.federalgazette.agc.gov.my" (PDF). Retrieved 23 October 2015.
  2. "www.federalgazette.agc.gov.my" (PDF). Retrieved 22 October 2015.
  3. "Supplementary Supply (2013) Bill 2014 tabled | The Malaysian Times" . Retrieved 22 October 2015.