Tag: tax

Malaysia raises a tax for the rich, allows foreigners to buy property worth RM600k

Malaysia's government raised the tax bracket for the rich earning RM2 million above to 30 per cent in a bid to generate more revenue and is allowing foreigners to buy property at a minimum value of RM600,000. Minister of Finance Lim Guan Eng announced it when tabling the...

Apple slams EU as epic court battle over tax bill begins

by Catherine KURZAWA Apple went on the offensive against Brussels in an EU court on Tuesday, fighting the European Commission's landmark order that the iPhone-maker reimburse Ireland 13 billion euros ($14 billion) in back taxes. The EU's tax demand, made three years ago, "defies reality and...

Singaporeans want tax increases to be used to fund govt initiatives on climate change : Survey

In a climate change survey conducted by Mediacorp, a majority of Singaporeans and PRs (53 percent) called for the use of current and future taxes to fund initiatives to tackle climate change. 96 percent of respondents indicated they either “agree” or “strongly agree” that the...

Najib faces bankruptcy, loss of Parliamentary seat on tax evasion

Malaysia's ex-PM Najib Razak risks losing his Parliamentary seat and will be declared bankrupt if he fails to pay his taxes. But Najib said he has always paid his taxes. “I’ve never run away from paying taxes,” the former prime minister said in a post on...

G20 countries see internet giants as new tax source: Nikkei

G20 countries are planning a new tax policy for digital giants like Google, based on the business a company does in a country, not where it is headquartered, the Nikkei business daily said Thursday. The basic policy is likely to be signed by finance ministers...

Sarawak pulls out of Tourism Malaysia over tax insults

Yet another sign of split and disagreement under Prime Minister Najib Razak's rule. The Sarawak government has simply pulled its representative from the board of Tourism Malaysia. A statement from the Sarawak Chief Minister's Office stated the pullout was with immediate effect. Sources said the pullout followed a barrage of...

CPF: Where is the government’s contribution?

By Kumaran Pillai The CPF scheme is an implicit and regressive form of taxation, especially for the poor and the middle class. Those with substantial cash reserves are least affected by the minimum sum policy. For cash-rich Singaporeans, they have better investment options which yield better...

Are We Too Disapproving?

So the recent news about the new types of equipment to deal with smoke and fuel have made an old hawker centre rule somewhat redundant. Environment Minister Dr Vivian Balakrishnan has rightly asked for the scrapping of the National Environment Agency rule. But what...