Business Reforms in Malaysia
= Doing Business reform making it easier to do business. = Change making it more difficult to do business.
Starting a Business: Malaysia made starting a business more difficult by requiring that companies with an annual revenue of more than MYR 500,000 register as a GST payer.
Getting Credit: In Malaysia the credit bureau began to provide consumer credit scores.
Paying Taxes: Malaysia made paying taxes easier by introducing an online system for filing and paying the Goods and Services Tax (GST) while also making it is more complex by replacing sales tax with GST.
Paying Taxes: Malaysia made paying taxes easier and less costly for companies by making electronic filing mandatory and reducing the property tax rate. At the same time, it also increased the capital gains tax.
Starting a Business: Malaysia made starting a business less costly by reducing the company registration fees.
Dealing with Construction Permits: Malaysia made dealing with construction permits easier by establishing a one-stop shop.
Getting Electricity: Malaysia made getting electricity easier by increasing the efficiency of internal processes at the utility and improving its communication and dialogue with contractors.
Labor Market Regulation: Malaysia introduced a minimum wage.
Dealing with Construction Permits: Malaysia made dealing with construction permits faster by improving the one-stop center for new buildings and by reducing the time to connect to telephone service.
Registering Property: Malaysia substantially reduced the number of days it takes to register property transfers.
Starting a Business: Malaysia made starting a business easier by merging company, tax, social security and employment fund registrations at the one-stop shop and providing same-day registration.
Paying Taxes: Malaysia made paying taxes costlier for firms by reintroducing the real estate capital gains tax—but also made tax compliance easier by improving electronic systems and the availability of software.
Enforcing Contracts: Malaysia continued to improve the computerization of its courts by introducing a system making it possible to file complaints electronically.
Resolving Insolvency: Malaysia established dedicated commercial courts to handle foreclosure proceedings.
Starting a Business: Malaysia eased business start-up by introducing more online services.
Registering Property: Malaysia’s introduction of online stamping reduced the time and cost to transfer property.
Labor Market Regulation: Malaysia eliminated the requirements to notify third parties in cases of redundancy dismissals.
Starting a Business: Malaysia made starting a business easier through a new one-stop shop service that helped in streamlining the registration process.
Enforcing Contracts: Malaysia made enforcing contracts easier by increasing court staff, more strictly enforcing deadlines for processing documents and reorganizing the commercial court to allow swifter disposition of interlocutory matters.
Starting a Business: Malaysia reduced the time needed to start a business by introducing electronic lodgment for business registration processes.
Paying Taxes: Malaysia made paying taxes less costly for companies by reducing the corporate income tax rate.
Starting a Business: Malaysia reduced the time required to start a business by increasing efficiency at the Companies Commission of Malaysia.
Paying Taxes: Malaysia made paying taxes easier for companies by encouraging electronic filing and payment.