[GOV] New tax scheme - Updated
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by Prime Minister's Department
Dear citizens of Malaysia,
The last few days one of the main topics has been the much needed tax reform. Which in this case unfortunately means a big increase of taxes, but since the higher MPP prices and the wars have depleted the state's reserves it's inevitable. The Malaysian congress has discussed the tax reform proposal and then voted on the favoured new scheme.
By decision of the congress, income taxes will be set at 18% and VAT at 3%. Below I'm publishing the new tax table. I'd like to ask congress members to start proposing the new taxes. Numbers are given below as income tax / import tax / VAT.
Foo😛
18% 30% 3 % - done
Gift: 18% 30% 3 % - needs fixing
Weapon: 18% 10% 3 % - done
Moving Tickets: 18% 30% 3 % - needs fixing
Grain: 18% 1% - not done
Diamonds: 50% 1% - no change needed
Iron: 50% 1% - not done
Oil: 18% 99% - done
Woo😛
18% 99% - done
House: 18% 30% 3 % - done
Hospital: 18% 1% 1 % - done
Defense System: 50% 1% 1 % - no change needed
Please make sure to set a debate area for your proposals. Just copy paste the following line as such:
erepublik.forumotion.net/voting-room-f24/tax-reform-t731.htm
That's all. Please be careful and make sure to submit the correct proposals. Also when you vote on the proposals please check first whether they are submitted correctly and contain the agreed on tax figures. Thank you.
UPDATE:
The tax proposals for moving tickets, gifts and iron were not submitted correctly. Please submit those again. Also grain is not fixed yet either. The rest are done. Please submit these remaining four proposals! Thank you
Nagyzee
Minister of Finance
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Comments
i have used my two proposals for donation/money transfer. Ops.
Get to work congressmen!
What did it used to be?
An😛
Haha! Singapore has lower taxes than Malaysia! XD. (15% income, 1% VAT, 30% Import)
We have less proposals/month (only around 10-12)so our tax structure isn't quite that uniform, but oh well.
VAT for gifts should be 1% if higher it will hurt the gifts industry and VAT for food should be higher, cause price of food is very low 1% or 3% didnt make any different 🙂
anyway i voted yes LOL
By the same logic we should keep all taxes down. Yes, taxes hurt competitiveness of business but it's something for something. And no, the price of food is not low at all in Malaysia. It's rather high at all quality levels. On the other hand gifts (and weapons) are quite cheap compared to world market prices.
And why would you tax the food industry more than the gift industry for example? With that you'd hurt the newbies who mostly buy only food and would also put the food industry at a disadvantage which is not really desired. I think nobody wants a q1 food shortage. A few days ago our food market was quite empty already.
Everyone please vote 'No' on the iron tax proposal:
http://www.erepublik.com/en/Malaysia/law/23231" target="_blank">http://www.erepublik.com/en/Malaysia/law[..]3231
The income and import tax figures have been switched up unfortunately.
ok just make it simple,
prices on gifts is very low atm and gifts industry is hardly survive because of the low price and low demand.If the VAT is raising,gifts industry will lost its charm and attraction further more that can cause them hardly to survive.
and in food industry,yes you're right,but i still thinking 3% VAT is too low, btw if the prices of various of food is too high,why dont just reduce the import tax?
Raising the VAT really doesn't hurt business owners in Malaysia at all, for gifts...you acknolwedged prices are already low, so no one's going to change their prices to be much lower than they already are. The price gets raised to the consumers a little.
A 1-3% change is a difference of about 5 cents for a gift here, anyway.
And if a 2% higher VAT really makes starting a gift company here more unattractive, it'd help the businesses already existing set the prices they want.