Raise revenue through trade, not by harassing rakyat, Finance Ministry told

Kho Teck Wan

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KUCHING, May 31: Sarawak United Peoples’ Party (SUPP) Central Women is urging the Finance Ministry to focus on trade initiatives to generate revenue for the country.

Its chief, Kho Teck Wan, said this should be done instead of turning to the rakyat to fill the national coffer.

Citing a statement by Council of Eminent Persons (CEP) chairman Tun Daim Zainuddin, eight million warning and inquiry letters had been sent out to the people by the Inland Revenue Department.

“Not only that, new taxes are introduced, such as the overseas travel tax, soda tax, and e-commerce tax. Cities in Pakatan Harapan’s (PH) states such as Petaling Jaya now impose licence and signage fees on advertising outside commercial buildings as well as inside the buildings.

“All these moves will increase the cost of goods, which will then be transferred to the consumers,” said Kho in a statement today.

In view of the increasing cost of living, Kho proposed that Finance Minister Lim Guan Eng change his strategy by focussing on increasing the national income through other avenues.

During the tabling of Budget 2019, Lim said the government would impose a 5 per cent real property gain tax (RPGT) on all Malaysians and raise the tax by 5 per cent for foreigners to 10 per cent for those who sold their properties after the fifth year.

Previously, Malaysians were not charged any RPGT if they sold their properties after five full years of ownership.

Under the current tiered tax system, the RPGT on properties acquired and sold within three years is 30 per cent, four years (20 per cent) and five years (15 per cent). — DayakDaily