save malaysia!!!

Author: savemalaysia   |   Latest post: Thu, 18 Oct 2018, 05:25 PM


Guan Eng: No service tax on credit cards please [2009]

Author:   |    Publish date:

Monday, 2 Nov 2009


KUALA LUMPUR: The DAP has called on the Government not to implement the proposed service tax on credit card holders, which will cause financial hardship to the poorer segments of society.

DAP secretary-general and Bagan Member of Parliament Lim Guan Eng criticised the move, proposed in the Budget 2010, which is RM50 on each principal credit and charge card and RM25 for supplementary cards.

The policy will push more consumers to borrow money from “ah long” or illegal moneylenders, especially when the country is facing the effects of the global economic slump, he added.

“The Government should look at the perspective of the poor first before it implements the move,” he said.

Lim said the party estimated that the Government will collect RM555mil in revenue from 10 million credit card and 1.5 million supplementary card holders per annum.

He added that the Government is expected to collect an additional RM6.3bil in net revenue for next year and questioned why it needed to tax RM555mil from the people.

“There are many lower middle class and working class people who have more than one credit card, and a number of them have three to four cards and up to six cards each.

“The interest rate for these cards can as high as 18% per annum or 1.5% per month, which is still lower than what is being charged by the ah longs.

“The move to tax the credit card holders will not achieve the Government’s aim on prudent spending, since the people’s income has gone down while their expenditure rate has not changed.

“The Government should cancel the credit card service tax, so that it can help the poor and the lower middle income group,” he told reporters at the Parliament lobby on Monday.

He said he was sure that the people understood how to plan their budgets during bad economic times.




Share this

  Patrick13 likes this.
bagan If one look at his old statements lge sounds like a minister from heaven...but wait until he become a minister, then you will see him with horns, whipping tail with a trident in his right hand
21/07/2018 09:48
VenFx Every each Malaysian know who is LGE and his highest prifession to deliver his duty as a MOF minister.

Transparency is all matter here.
21/07/2018 10:07
VenFx Only Transparency policy adopt then qe can see the overall pic without any suspicious spot ... where as the former BN has failed to show to the rakyat with their integrity but bunch of sacandals.

Rakyat the Boss.
21/07/2018 10:11
天龙八部≈ 扫地僧 Must tax you on credit card Venfx sifu. Heard from street say u insert lot of cash in all your credit cards. Your FD all full and have to save money in all credit cards. Charge you RM25 is so small
21/07/2018 10:56
lotsofmoney Malaysia needs more ministers like LGE and Neo and Ngah who was actually praised by Zahid for fairness.
21/07/2018 11:03
joekit dowan lar...say wanna go cashless then tax our card..... haha.....cancel lar...cancel credit card..hahaha
21/07/2018 11:44
Edison Lim Previously is RM50. Now RM25, not too worst...
21/07/2018 12:21
Edison Lim Previously is RM50. Now RM25, not too worst...
21/07/2018 12:22


335  333  513  728 

Top 10 Active Counters
 BORNOIL 0.05-0.005 
 MRCB 0.775-0.02 
 LIONIND 0.80+0.025 
 SAPNRG 0.345-0.005 
 TIGER 0.055-0.01 
 HIBISCS 1.25-0.03 
 NGGB-WA 0.175+0.01 
 BARAKAH 0.09-0.015 
 HSI-C3X 0.54-0.06 
 MYEG 1.50-0.04 
Partners & Brokers