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Additional 6% Tax on Prepaid Reloads

Prepaid users will need to fork out own money to pay 6% service tax on all reloads as well as new starter packs effective from 15 Sept 2011. In the other words, the consumer would need to pay:

RM10.60 for RM10 prepaid reload
RM31.80 for RM30 prepaid reload
RM53.00 for RM50 prepaid reload
RM63.60 for RM60 prepaid reload
RM106.00 for RM100 prepaid reload

telco service tax

It’s not a great news to all the prepaid users as the call rate for prepaid charges is still very high. I think telcos should take the opportunity to give rebates to compensate the additional cost.

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September 11th, 2011 | Leave a Comment | 3,052 views

New Perodua Myvi 2011

Oh yeah! What’s special for this month? The new Perodua Myvi is launched by our Deputy Prime Minister on 16, June 2011. I’m sure all of you are very aware of this new Myvi. Many still remain question whether it will be a complete makeover from its successful predecessor after 5 consecutive years as the country’s best selling car.

new myvi

Perodua Myvi is a much better car than most of the imported cars and certainly all Proton models. The finishing is good and the engine is also among the best. Also, the nice body shape, ample space, and rich features always fit most of Malaysian needs. No doubt it is the best selling car and predicted that it would remain so.

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June 28th, 2011 | 2 Comments | 4,104 views

The Impact of Power Tariff Hikes

The news on new electricity tariff has caught everyone dumbfounded recently. The average electricity tariff will be increased by 7.12% due to revision of gas prices for power sector.

However, those households that use 300kWh or less of electricity per month will not be affected by this high tariff rate. Meanwhile, our government will also continue to provide rebate to domestic consumers whose monthly electricity bills amount to RM20 or less until end of this year.

TNB new tariff

The increase in power tariff is also part of a plan to cut government subsidies. We have been assured that the effect of the power tariff hike on inflation would not be significant. But, we must always remind that it will trigger some increase in the cost of living although the impact is expected to be less than that from an increase in fuel prices.

My Suggestions:

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June 5th, 2011 | 3 Comments | 3,613 views

GST Malaysia 2011 & Its Implications

A Goods and Services Tax (GST) will be implemented in Malaysia soon. Basically, this consumption tax is imposed on consumers’ goods and services. However, for a business owner they also need to think carefully as they need to apply it to their business. If they fail to do that, then they may suffer the loss of the credit for input taxes.

GST Malaysia

Apparently, this GST will affect not only accounting, finance, or tax personnel, but it will affect all levels of staff also, including those from sales, operations, and even human resource.

My Opinions on GST Malaysia 2011

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May 13th, 2011 | 1 Comment | 5,093 views

Impact of the Increase in OPR

Bank Negara Malaysia raised the Overnight Policy Rate (OPR) by 25 basis points to 3% since last Friday. Following this, banks will increase the Base Lending Rate (BLR) sooner. So, for those who have variable loans especially housing loan will have to pay more in their monthly installment.

bank negara malaysiaOPR

The reason for increasing the OPR is to cover the local inflationary pressures. The current inflation rate is about 2.9% and it is expected to continue to rise in latter part of the year. However, Bank Negara did a great job as they take pre-emptive action to push for economic growth before addressing the inflation issue.

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May 10th, 2011 | 1 Comment | 5,229 views