This capital gain tax will kill the capital market as many business owners will not want to list their companies in malaysia.
For example, if a shareholder gain rgt 10mil upon listing,it is now at the moment consider extraordinary income. Hence no tax. So those companies that want to go public are happy to list their company in our local capital market.
If this 'gain' is taxed, they will list elsewhere.
Gst will bring extra rgt50bil income per year for the government. They should impose gradually, say from 3% and slowly to 10%.
Indon,thailand,spore,phillipines,cambodia,vietnam and laos have already impose gst since the nineties.
Madani government should also renegotiate payment of interest to reduce yearly expenditure and presell the oil and gas for upfronf cash.
Yes,pension reform and cut government civil servant's excessive expenditure as well.
This NETR should not be implemented. Even Blackrock mutual fund has stop investing based on this ESG as they keep losong money. Forget elon musk. His credit limitatuon means he wont invest in malaysia or indon anytime soon and indonesia will not buy our electricity due to security concern.
Focus on SMEs. Get it up to 60% of gdp. This is where REAL wealth creation is.
This capital gain tax will kill the capital market as many business owners will not want to list their companies in malaysia.
For example, if a shareholder gain rgt 10mil upon listing,it is now at the moment consider extraordinary income. Hence no tax. So those companies that want to go public are happy to list their company in our local capital market.
If this 'gain' is taxed, they will list elsewhere.
Gst will bring extra rgt50bil income per year for the government. They should impose gradually, say from 3% and slowly to 10%.
Indon,thailand,spore,phillipines,cambodia,vietnam and laos have already impose gst since the nineties.
Madani government should also renegotiate payment of interest to reduce yearly expenditure and presell the oil and gas for upfronf cash.
Yes,pension reform and cut government civil servant's excessive expenditure as well.
This NETR should not be implemented. Even Blackrock mutual fund has stop investing based on this ESG as they keep losong money. Forget elon musk. His credit limitatuon means he wont invest in malaysia or indon anytime soon and indonesia will not buy our electricity due to security concern.
Focus on SMEs. Get it up to 60% of gdp. This is where REAL wealth creation is.
👍