Photo courtesy of Hey Gem
You must have already heard about the RM50.00 service tax imposed on all credit cards (incuding supplementary cards at RM25 each). I certainly do not think that such a blanket policy is aimed at curbing over-spending. I am sure not every plastic users in Malaysia are behind on their payments. Such an act is only a sign that the government is running low on cash, and for all you know, they are going to charge a new road tax for every tyres you have in your car- which includes your spare tyres!
Here’s a nice article from Tony Pua on his thoughts about the new Plastic Policy by our beloved Government…
I MUST say that Budget 2010, announced by Datuk Seri Najib Razak on 23 Oct 2009, contained quite a few surprises for better or for worse. And my observation is from someone who has pored through the government’s budget over the past five years.
For one, I’ll have to start picking up the phone over the next few weeks to cancel my many credit cards. An unwelcome announcement was that beginning 1 Jan 2010, we will be taxed for every card we own, regardless of whether we are or aren’t in debt.
At RM50 per card, and RM25 per supplementary card, that’s probably enough to set me back at least RM700 per annum. Yes, I have indeed a whole string of credit cards, but thankfully without any debt attached to them.
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