Ministry of Finance Malaysia

Ministry of Finance Malaysia Overview
The Ministry of Finance Malaysia or Treasury Malaysia looks after the financial and economic affairs of the state of Malaysia. Finance Ministry of Malaysia formulates the financial and economic plans, that are followed by the Malaysian national government to ensure overall economic improvement.

Treasury Malaysia Objectives
Treasury Malaysia executes its functions, based on certain objectives.

They may be mentioned as below:
Ensure sustained and continuous economic growth
Pursue a more equitable sharing of national wealth
Pursue a more equitable sharing of national wealth
Strengthen national competitiveness and economic resilience
Improve quality of life and well being of society
Ensure effective and prudent financial management
Ministry of Finance Malaysia Vision
The following aims make up the vision of Finance Ministry of Malaysia:
To be an exemplary world class agency both domestically and internationally
To be the premier agency responsible for national financial and economic management

Ministry of Finance Malaysia Functions
Finance Ministry of Malaysia performs a wide variety of functions.

They may be enlisted as below:
To formulate and implement fiscal and monetary policies in order to ensure effective and efficient distribution and management of financial resources
To Monitor the financial management of Ministries, Government Departments and statutory Bodies
To formulate financial management and accounting processes, procedures and standards to be implemented by all Government
To formulate and administer policies related to be the management of Government procurement
To manage the acquisition and disbursement of federal Government loans from domestic and external sources
To formulate policies and administer Government housing loans for public sector employees
To monitor that Minister of Finance Incorporated companies are managed effectively

Ministry of Finance Malaysia Services
The following services are provided by Finance Ministry of Malaysia:
Approval Of Revenue And Expenditure Codes
Computerized Vot Book System
Approval Of Financial Forms
Company Registration
Ministry of Finance Malaysia Tax Legislation

Ministry of Finance Malaysia has instituted certain laws that deal with the issue of taxation. The legislations and their dates of creation are enlisted as below:

Name Time of Creation
Promotion Of Investment Act 1986
Sales Tax Act 1972
Income Tax Act 1967
Excise Act 1976
Labuan Offshore Business Activity Act ( Lobata) 1990
Free Zone Act 1990
Customs Act 1967


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Last Updated on : 1st August 2013

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