should look into these issues to boost morale of
With this, one of the biggest taxation reforms since Independence is all set to transform into a new system of indirect taxation that will not only boost GDP growth but will also create a uniform market in this country. GST will help businesses to operate more efficiently. Companies know where they want to go. They want to be more agile, quicker to react and more effective. They want to deliver great customer experiences, take advantage of new technologies to cut costs, improve quality and transparency, and build value.
The problem: while most companies are trying to get better, the results tend to fall short: one-off initiatives in separate units that don’t have a big enterprise-wide impact; adoption of the improvement method of the day; and programmes that provide temporary gains but aren’t sustainable.
We have found that for companies to build value and provide compelling customer experiences at lower cost, they need to commit to a next-generation operating model. This operating model is a new way of running the organisation that combines digital technologies and operations capabilities in an integrated, well-sequenced way to achieve step-change improvements in revenue, customer experience and cost.
A simple way to visualise this model is to think of it as having two parts, each requiring companies to adopt major changes in the way they work: (a) from running uncoordinated efforts within silos to launching an integrated operational-improvement programme organised around journeys, and (b) from applying individual approaches or capabilities in a piecemeal manner to adopting multiple levers in sequence to achieve compound impact.
a moment of pride for Titiwangsa has vast experience at various levels, and that as a central minister he would not only perform the assigned tasks, but also help the Prime Minister in handling other situations. not to lose sight of other delicate matters such as growth and the spring-cleaning of banks to enable them to start lending again.
You have been given a very important portfolio How will you ensure various schemes and programmes are implemented at the grassroots level? relatively speaking, inscrutable. None of the recent holding a similar charge were as reticent to articulate their views
now we must hear his thoughts. Being Finance Minister II
relied on research “Challenges of Effective Monetary Policy in Emerging Economies,”
The reasons for unintended consequences are that the presence of institutional constraints in an emerging economy and thin financial markets may not produce the desired effect. this objective is not out of sync with the goal of financial stability. Rightly, Finance Ministery has an effective control over Central Bank. However, it takes two to tango and Central Bank. and the government must engage constantly to avoid any blame game in case inflation trips
two priorities for central banks.
“First,following through on fumigating banks calls for a nuanced approach. Malfeasance should be punished, but grouping all defaulters in one nasty bunch will throttle entrepreneurship. Which is where the new bankruptcy code is so welcome. must aim at deepening the corporate bond market that has been crying for action re-balance the reform agenda from high profile subjects such as legislative amendments like monetary policy framework and associated institutional changes, to addressing policy induced distortions that undermine monetary policy efficacy and transmission.”“Second, address the challenge of multiple roles and limited instruments,”
As some of the big legislative changes have already been dealt with, it is reasonable to expect Najib-to tinker with the existing systems and processes to increase the efficacy of policy rate changes.
In a recent interview Titiwangsa MP Johari Abdul Ghani said “ The crusade against inflation will continue I am of the firm belief that the nation should progress on the issue of development.says in interview media should stop making heroes out of those who make divisive comments.The real duty of newspapers is to educate people, cleanse narrow-mindedness and communal feelings, promote harmony and build common nationalism. However, they have made objective to spread ignorance, narrow-mindedness, communalism and enmity and destroy Malaysia’s common heritage and nationalism…”Disturb by the communal hatred propagated by politicians and media Replying to the question “Hot heads who make extreme comments, is there a necessity to control them.Media’s irresponsible behaviour continued even after that when it turned a blind eye towards divisive speeches delivered by PAS and DAP leaders in election rallies and highly communal campaign unleashed by the PAS and DAP cadre on ground during elections. Media strategy cannot exist in a vacuum and cannot be crafted in isolation to Action. The primary weapons of war has and will remain as Action, and any media strategy that does not recognise this premise is usually self defeating.The only voice that speaks to us with reason and instinct on its side, the only voice that has no ulterior motives, which sometimes even those closest to us unintentionally have. The key about “Instant Thunder” is that action must follow word. The primary focus is Action. That means taking down all those elements either simultaneously or one after the other, in a rapid sequential move. The Media Strategy is simply to report on the Action and to give added perspective of the reasons behind the Action
Finance Minister II Datuk Johari Abdul Ghani said the party leaders' spirited defence of Umno and its president is not just hot air.
Najib has done quite an astounding job staying in power.
Why needs an administrative innovation some initiative have been taken to ensure accountability
Direction of reforms must shift towards fulfilling people’s felt needs
Financial contracts are typically struck between someone who wants to shift value to the present and someone who wants to shift value to the future. There are two broad reasons for shifting money to the present: consumption and production. The consumption motive is the need for cash to cover current expenses, to buy food, to pay medical bills, or to deal with some other unforeseen cost. Consumption loans can be used to reduce risk. In an uncertain world, sudden expenses arise. Financial contracts allow you to borrow or pledge against the future to mitigate negative shocks today. In extreme circumstances, such as crop failure or a sudden illness, an emergency loan is a way to put food on the table and provide medicine to the sick—it smooths out the difference between good times and bad times. Financial contracts can provide the same potential benefits to governments, by the way.
Governments borrow to pay for military defence or a sudden calamity, and then repay the loan with future tax revenues. The term for this financial function is “intertemporal smoothing of consumption.” Productive loans play a special role in the economy, because they are based on the notion of growth. They do not simply smooth economic shocks between the present and future; they make a different kind of future possible. Finance can bring capital together to create an enterprise that will generate higher future value.
Datuk Johari Abdul Ghani extraordinary act upon his ideas. They are not afraid of losing; the only thing that matters to them is realising their dreams. not afraid of being wrong either, or of accepting mistakes and stepping back. You cannot hope to be more than ordinary if you do not believe in yourself and your own strengths.An extraordinary person lives his life fully. The trick to leading an extraordinary life is to lead your simple, ordinary life and be open to experiencing the extraordinary you find within it. Striving too hard to be different is not the way to stand out; rather it is the way to becoming an object of ridicule. Just live your life fully and by your rules; do not make compromises you do not believe in. Stand up for what is right and work with focus and sincerity.
is one who has a strong sense of what is right or wrong, and who chooses to stand by the right, no matter what the compulsions not to do so. The moment people compromise with morality, they become very, very ordinary for me. Ordinary people will witness an accident or a victim of violence and carry on, allowing themselves a myriad excuses about why they cannot get involved. It is the extraordinary person who will step up and offer help or call up the cops or a helpline and ensure help reaches
An important objective of financial sector reforms is to move Malaysia towards a more rules-based system. In particular, it means that financial sector regulators have to be made more accountable and their actions should not be arbitrary.memoirs of a turbulent stint confirms something that quickly becomes apparent to journalists who cover the beat. Regardless of the party in power, neither finance ministers nor senior bureaucrats in the ministry believe in a rules-based system. There have been exceptions, but generally arbitrariness marks their decisions.to report on their monitoring activities which handicapped their functioning.
Experts have also pointed to the lack of independence and their inability to effectively implement
It is in such a scenario that the innovative attempt by to enforce some kind of accountability of has gained ground. It is a good beginning that will hopefully lead to more extensive efforts to set up a more effective accountability framework that would help boost the performance of financial sector sector in the country.
the prime minister mentioned of putting paid to ‘tax terrorism’ and attendant untoward initiatives. The goods and services tax (GST) now in the works does, in fact, have the very real potential to shore up transparency and end arbitrariness in tax demands. It should greatly improve the
ease of doing business, and also shore up efficiency gains across the board. But we need to rationalise taxes on logistics, transport and infrastructure including power, so as to improve the gains from reform of consumption taxes as we move to implement GST. GST data can well be duly analysed to resolve domestic and international tax disputes of a transactional nature, such as issues of transfer (intra-company) pricing, pertaining to not just domestic operations of multinational corporations but to domestic valueaddition generally. For instance, poring over GST data should reveal information about intra-company margins, deviations across products, and the relevant transaction flows of goods and services to purposefully improve decision-making on transfer pricing tax demands.
The idea behind GST, of course, is to reform and overhaul the indirect tax regime, and provide tax set-offs across the production and delivery value chain so as to avoid tax-on-tax and cascading tax rates, with the objective that tax is only levied on the value added at each stage of output, both at the Centre and the states, and for both goods and services. It would reduce transaction costs and simplify taxation procedure.
Under GST, every sales invoice would contain a tax code on levies paid. Further, the input tax information cannot be manually changed, which should ease the process of input tax credit and thereby reduce the indirect tax burden on businesses and households.
It should also be possible to improve business decisions based on tax data and analytics. For example, by keeping a tab on tax credit outgo and by better balancing input tax credits, it should be possible to optimise operations and investments.The GST data would have analytic value. It follows that with GST, organisations can transform their intercompany pricing analysis to a more data-driven approach based on actual transactions on record.
No comments:
Post a Comment