I would begin by recommending to our current Prime Minister, Tun Dr Mahathir one of the best way to increase government revenue. CGT on the financial markets, this way we can tax the rich to help the poor.
Recently, I have came across many individuals who claimed to have made thousands and thousands of profit by trading stock. Most of them I noticed are from SAPNRG. That got me thinking, if these people made so much money, I reckon they really should contribute to the well being our Malaysia's Economy. And that is when I realised in the United States and Australia, their people are taxed for making a gain the share market.
Why shouldn't we do that with Malaysia? One reason would be scaring away foreign investor. However in our case, since the past 2 weeks, majority of the foreign funds has been withdrawn, so there should not be a problem implementing Capital Gain Tax in Malaysia.
One would argue that introduction of a new tax would be a burden to the rakyat, but you need to understand those who really struggles wouldn't have any surplus to "invest" or more often daily trading in the stock market. So I think this is a feasible approach to tackling Malaysia's huge debt issue.
Repeat after me, Tax the Rich, Help the Poor! Tax the Rich, Help the Poor!
@Dondon you think overseas no Capital gain tax? Tax all the rich people to help the country is good idea.
2018-06-01 08:18
Dondon
Capital gain tax in Malaysia?I will withdraw all my investment in Malaysia.Rather fully invest in oversea .1 of the main factor still invest here,because it's tax free.
2018-05-31 20:21