15% income tax rate for returning M'sians: PM

KUALA LUMPUR: The Government hopes to lure more Malaysians working overseas with an income tax rate of 15% for five years and new rules on cars under the Returning Experts Programme.
Opening the Invest Malaysia 2011 conference Tuesday, Prime Minister Datuk Seri Najib Tun Razak said:

Najib delivering his keynote address at the conference. Starpic by Rohaizat bin Md Darus

"I certainly hope the changes will encourage more Malaysians with expertise to return to play an active part in the economic transformation."
Other points in his speech:
* new Residence Pass for high-skilled foreign workers allows them to stay in Malaysia for 10 years;
* Government has already committed RM95bil for Economic Transformation Programme, creating 225,000 jobs in next 10 years;

Najib delivering his keynote address at the conference.

* Felda Sugar will be listed on the main market of Bursa KL by this July;
* In the last financial year, government-linked companies earned RM17.3bil, up almost 50% compared to 2009;
* Liberalisation of service sectors has seen trade in services rise to RM207 bil, with service exports rising 5.6%.
* Launch of second Capital Market Plan or CMP2 which highlights include cutting red tape in financial services and launch of new private pension fund framework


Warm Regard, Sara Pandian