In my opinion, if the Malaysian government administration had been transparent, efficient in management, and free from corruption and misappropriation of public funds, Malaysia could implement VAT/GST.At the moment, in my opinion, Malaysia is not yet ready because the average income/wage rate of its people is still low and most of them are below the poverty line.It's true that VAT/GST is a good tax because it is a bulk tax.The rich may not have a problem, but those who will be burdened by VAT are mostly the poor.It is true that during the time of Prime Minister Najib Razak, a VAT tax system as high as 6% was introduced at the beginning.Meanwhile, Singapore introduced a VAT of 4% at the beginning.At the same time, the average income/wage rate of Singaporeans is high and is governed by a transparent Government.The story of Malaysia at that time was different because it was ruled by a corrupt government administration.As far as I know, Najib Razak introduced the VAT/GST tax system with the aim of paying off the 1MDB debt he had incurred previously.Until now, Malaysians have had to pay 1MDB's debt every year. A total of 48 billion a year. That's just interest and that alone is already burdening the people of the country.
No. Excessive government spending is the reason why government debt has soared. Spend within your revenue and you won't have to face a situation where you have a bloated civil service and a subsequent painful austerity if government revenue drops.
@Dark.House.24 Regurgitate current Government then opposition lies? 6% is FAIR, because EVERYONE not only citizens but those ILLEGAL n LEGAL migrants would hv to pay too. NO ONE can hide.... u pay according to yr spending. Moreover it solves the prevalent cheating of tax declaration by companies... Ya know how like Boss Family members bill the Parent company of incredulous bogus services... 😂
Not only that, we should reign in unnecessary and excessive government spending. Do we really need to spend millions of ringgit refurbishing the prime ministers' residence?
Your public civil service is full of incompetence and full of bloat. It is 25% of the total government budget. It's not a matter of more or less tax, it's about fiscal discipline.
The problem with taxation in Malaysia is how the government spends money. Malaysia has issues with over-centralization, big government (massive welfare state and civil service), bureaucracy, and corruption. These are all interlinked to one another. Over-centralization leads to big government which then leads to red tape bureaucracy which then leads to corruption. What the Malaysian government should do is decentralize, return most powers that the federal government has to the state governments be it taxation, religion, police, healthcare, education, environment, labor law, commerce, etc. By reducing the power of the federal government and returning them to state governments, you cut down on the bureaucracy hence minimizing possibilities of corruption. Secondly, the Malaysian government whether past or present has their hands in unnecessary programs. Examples: public spending on sports events, arts, cultural celebrations, overlapping healthcare programs such as those by MOH and Ministry of Women, Family, and Community, government propaganda through TV shows, Majlis Selawat and Zikir, PrEP programs, subsidies etc. Thirdly, government policies allow and welcome protectionism along racial or political lines. Although the existing government has avoided protectionist policies along racial lines, protectionism is still existent and expanded especially among those who share political biases. Certain people get to import and export products, farmers aren't allowed to sell their produce directly, companies with certain connections get funds from the government. The solutions to Malaysia's woes are decentralization and the free market.
@@muhdajmel9473 decentralization of taxation n education is unnecesary for a country of malaysians size n population. It may work for the US but we dont necessarily need to copy what the US is doing lock stock n barrel. We need a governance model that is customized according to our context
@mayfoo02 Decentralization of taxation is exactly what we need. The reason why I say this is because it is unfair that the federal government harvests the natural resources from states like Sarawak, Sabah, Kelantan, Terengganu, Perak, and so on then federal government gets to decide how they tax money collected from these activities are to be distributed. It is utterly unfair. Secondly, it is not a matter of population or geography. Switzerland has a decentralized tax system with each Canton and Commune decide on the tax rate. Switzerland is a smaller country by population size and geography, so your argument about population size is quite invalid. Thirdly, in regards to education, it's best to decentralize. Creating a unified education system is terrible for social cohesion. Let parents decide how they wish their children to be educated. And it is not about adopting the American model. The American model allows the federal government to interfere with the Police Power of the state governments. Despite education falling under the states authority, the DOE still plays a big role in managing resources, etc. I tend to advocate a Swiss like model with a twist of thalassocracies unifying under a federation prior to colonization.
Reduce tax incentives for foreign companies. Reintroduce GST. Remove subsidies on petroleum. Increase pay as only 2 million out of a 15 million workforce pay income tax. Balance the budget first before going on any spending spree which will also likely reduce corruption .
As you rightly pointed out, Malaysia tax structure is similar to Spore. But how come Spore is so rich? The answer is in the structure of the economy. Imagine the size of Malaysia GDP is smaller than Spore despite having 460x land size! Same percentage of tax to GDP to my mind is not the issue. The issue is Malaysia must have higher component of high value adding economic activities. Tax income will follow
@@jcl644 i feel like if a lot of people were to be taxed it would definitely make a big difference considering most malaysians dont even get taxed because of how little they earn
1. Teach your citizen global High Income skills. 2. Your citizen get high income jobs. 3. You get high income tax. 4. You get richer. 5. Offer your citizen investment plan. 6. You get more richer. 7. Build more critical infrastructure. 8. You get more richer Brain drain? So what. Tax their expenses and assets. High debt? Pay your fking debt and sell your hard asset. And boom businesses go crazy.
The rich deserve to be rich because they were chosen by god to lead people who are not rich (saw a parody video that said something along those lines over s decade ago)
Govt spending dilutes the tax rev to GDP ratio. This is evident by how the country's infrastructure has improved to unrecognisable levels as it was just 10 years ago. That ratio was considerably high because as you've said yourself, Malaysia used to be a resource-based economy, while improvements in infrastructure wasn't really a thing in the 80's. Just my two cents
Increase taxes on the people will only increase the burdens on them. Inflation will rise higher and higher, even basic necessities becoming more and more expensive. People may cut back on spending resulting in slowdown in consumption and the economy as the whole. Shops and businesses will close down due to slowdown in businesses. And as a result less jobs and high unemployment rate. Crime rate may go up. Already 2 million people migrated out to other countries, more will follow if taxes become a heavy burden on the people. So think twice before imposing more taxes on the people. Do not blindly pursue high income status that may cause more harms to the country.
Taxing citizens that can't receive benefits , need to be put into consideration also .. all the hard work and someone else enjoying is not fair as well .
All these can be solved with having a much smaller goverment with abolishing many unwanted goverrnment departments and bereaucracies. From this, no more wasteful allocations of government's money.
no one willing to accept the implementation of GST simply bcos few reasons - LOW Wage, increase of price of goods once its implemented, corruption by the then government, its poorly implemented. Malaysia income are only benefitting certain areas and not other parts of Malaysia.
The Tax Base in Malaysia is also much smaller at probably about 20% of the population possibly less too. Muslims in Malaysia are required to pay zakat & whatever is paid to Zakat is offset against their tax. Whilst on the other hand the nob-Muslimd only get a relief in the taxable income.
The Goods and Services Tax (GST) represents the optimal solution. The current government’s assistance from a foreign entity overthrew the previous administration, which was reluctant to elevate Malaysia’s economic status beyond that of its neighboring country, the Asian Lapdog, akin to the fate of Japan. As the adage goes, “To be an enemy is perilous, but to be a friend is fatal.”
If you tax the rich, then do you think you can attract the Billionaires CEOs who come and open 10 or 20 stores and employ 1000 or 2000 staff? So you chase 1 rich billionaire away, and he close 20 stores or companies and thousands lose jobs..
No matter how good your taxes systems,if government departments and ministers doesn't take action against corruption in GLC and custom and and boarder line (smuggling), Government wastage should be stop first before implantation any taxes system.Politician had has privileged in case of tax invasion and projects from ministers (no open tenders for projects multiple 100 millions under previous government under BN parties). All monies collected by custom and taxes agencies allocated to ministers only benefitted few politicians cronies and parties members.Honest and good practice Business man doesn't involved or not invited (no base on contractors performance and financially stability and good practicing)to tender for the reasons much give bribery to others agencies in order to smoothly progress the project and completed it.
The Rich are already paying 30% tax. The problem is the wastage and leakage. Ask the Govt who much is earned by privileged on Approved Permits, Bumi allocations on new IPOs. These are pilfered away and not counted in the tax/GDP%. Stupid analysis!
Best way is to eliminate Income Tax altogether. Income are marginal and very small amount. Replace with 2.5% tax on unused Asset. These asset should be at least 1 year doing nothing. not contributing to economy. These kind of assets are humongous among rich people. (ie.. Zakat system)
I just hope malaysia dont end up like the current US, which is late stage capitalism where corporations and ceos have political power. I'm seeing Malaysia strengthening their relationship with the US, and that's great but I dont want us to adopt their system.
Im find with it.. if coountry can survive it self.. with lower tax.. so no prob right... All the high income high tax country do they do good?.. i dont think so..
Even we have Petronas but in early days in the 80an our government invested in carrian group of Hong Kong that turn out as scam, we lose more then billion US dollar that time😂 and government cover it with Petronas revenue and our beloved drm involved in it.. we are rich with so many advantages but we don’t have people that can lead the country..
Tax can be paid into Zakat, ringgit for ringgit... so if 50% (no idea the quantum) are paid into Zakat, then tax collection comparation w other countries are orange n apple. 'Normal tax paying malaysian' will be tax to death 😅😂😅😢
Tax was and never will be a source of income for gov, is merely just a tool to slow down inflation albeit is not that effective. Ppl really need to stop linking gov income with tax.
Rosmah need not pay taxes as she is above the law. Get her to pay and go after all the politicians, government servants who are corrupt, and the businesses who are not paying tax. Bring back the GST and we will have a good system where everyone pays taxes on cigaretts, alcohol and vaping .
Totally wrong analysis. A correct analysis is to start from where author already stated - Singapore also has the same problem But why has it leap-frogged over Malaysia? It's not a tax problem, it's called macro economic management coupled with socio-political structures. There is so much inefficiency in the Malaysian system that no micro-adjustments like adjusting or implementing new tax or increasing the tax base is going to help, in fact it may be counter-intuitive because it may drive rich people away and cause the already suffering majority even more hardships. What we need are complete change of mind sets and political will. It may be a bridge too far because the current bunch of political leaders are rent seekers who will not give up their gravy train. So, Malaysia will be stuck - which is such a waste since it held so much promise before that autocratic leader came to power and destroyed the future of Malaysia. You read it correct, one leader with a defective vision held ransom on the country and ruined its future. It may take generations to undo the harm, that is even with half the political will to implement the necessary changes.
Isnt tax our internal matter, thats wobt involve & benefits foreigners like you? Then why you are so concern? Biggest tax payers are business owners , not the workers! Mean rich people like you, whom objecting government not to increase that tax value since 80's! 2. So foreigner like you cant pursue our government to implement GST since your own data included 2015 gst, which also lover than non gst era before 2010! So better advise your fellow rich people to contribute more of their taxes as per their profit reports, which our corrupted LHDN failed to go through even though 90% corporates proudly shared their financial year records & bank statements without confidential protection! So its the IRD @LHDN whom failed enforcing higher taxes from those high profits! Until today all telecom companies are NOT paying their tax profits, instead they collect additional from clients like me as GST , then just transfer to IRD Malaysia!. This is not tax from telecom companies! Instead tax for purchasing!
They should put high taxes on all the politicians, MP, PM and the rich billionaires in Malaysia. This hypocrites liars are over paid and creating problems in Malaysia. Malaysia workers are underpaid and the big corporations and businesses companies are marginalized their workers with low pay and welfare.
Pertama sekali, China adalah sebuah negara maju. Dan perlu diingat bahawa ekonomi kebanyakan negara maju berkembang rendah sejak pandemik Covid-19. Namun begitu, Malaysia adalah sebuah negara yang sedang membangun. Apabila sesebuah negara sedang membangun, bermakna aktiviti ekonomi juga sedang rancak berkembang. Untuk menjadi sebuah negara maju, sektor perindustrian berat dan industri pertanian berasaskan pengeluaran produk amat diperlukan untuk menjana peluang pekerjaan, membawa masuk teknologi serta mempelajari crucial skill sets. Indonesia berada di belakang kerana masih mengamalkan ekonomi berasaskan penjualan hasil bumi. Untuk mengembangkan ekonomi, hasil bumi tersebut perlu diproses menjadi produk yang boleh digunakan, dijual dan dieksport.
Hadeh perekonomian Indonesia itu 40 % didorong oleh industri 40 % jasa Dan sisanya hasil alam Kamu perlu belajar lebih banyak lagi tentang ekonomi Indonesia lol@@muhammadzayanizulkifli620
THE UK takes 20-40% of your salary for tax. On top of that you are also forced to pay health insurance. Yet you get shitty healthcare service. House rents increase every 6 months. The transportation is extremely expensive.
if anyone had play any economy simulator games, like victoria 3, you will know that it is not just simply increasing tax, because increasing tax alone will put more burden on those that paying those tax, and increase animosity toward that tax. what a country should do is broaden the tax. tax those who are not tax/able to evade tax. one of that is gst, because by using gst it will expose most business of their gross profit hence taxable. tax those gray economy alas, most malaysian loves sweet and free stuff. ignorant of the disease that will come with and the broader economic important, selfish and greedy. free this free that. abcd gst bullshit. so here we are. i've been against these lies. i am blamming most malaysian for believing those populist parasite
High-income but living cost in Malaysia is extremely cheap. Their power cost, petrol cost is really competitive compared to other Asian countries. What a heaven!
Despite increased salary of 1.7k & Sspa for civil servants with stages but cost of living are level up & challeging for madani goverment under pmx dsai premieship
@@klopkerna3562 there's no question that Malaysia is much better per capita but the potential for future growth in terms of national GDP leans favourably for higher population countries like Philippines and Vietnam especially with high GDP growth. Philippines today has very modern little cities like BGC and more are coming while Malaysia can't match it because of fewer population. That's the good side of a bigger national GDP. The room for growth is also big as well. Malaysia of course is way above per capita and it's good but speaking of future growth, the countries with higher population like Vietnam and the Philippines has the edge. For similar reason, Vietnam and Philippines will soon overtake Thailand's national GDP. 😊
Do you think Malaysia has a tax problem?
In my opinion, if the Malaysian government administration had been transparent, efficient in management, and free from corruption and misappropriation of public funds, Malaysia could implement VAT/GST.At the moment, in my opinion, Malaysia is not yet ready because the average income/wage rate of its people is still low and most of them are below the poverty line.It's true that VAT/GST is a good tax because it is a bulk tax.The rich may not have a problem, but those who will be burdened by VAT are mostly the poor.It is true that during the time of Prime Minister Najib Razak, a VAT tax system as high as 6% was introduced at the beginning.Meanwhile, Singapore introduced a VAT of 4% at the beginning.At the same time, the average income/wage rate of Singaporeans is high and is governed by a transparent Government.The story of Malaysia at that time was different because it was ruled by a corrupt government administration.As far as I know, Najib Razak introduced the VAT/GST tax system with the aim of paying off the 1MDB debt he had incurred previously.Until now, Malaysians have had to pay 1MDB's debt every year. A total of 48 billion a year. That's just interest and that alone is already burdening the people of the country.
With remaining Sst instead of Gst but cost of living are level up & challegging for madani phbn under r Pmx Dsai premiership
Yes
No. Excessive government spending is the reason why government debt has soared. Spend within your revenue and you won't have to face a situation where you have a bloated civil service and a subsequent painful austerity if government revenue drops.
@Dark.House.24
Regurgitate current Government then opposition lies?
6% is FAIR, because EVERYONE not only citizens but those ILLEGAL n LEGAL migrants would hv to pay too. NO ONE can hide.... u pay according to yr spending.
Moreover it solves the prevalent cheating of tax declaration by companies...
Ya know how like Boss Family members bill the Parent company of incredulous bogus services... 😂
It's NOT THAT PEOPLE ARE POORLY TAX but there's a lot of scums running away and lying about declaring INCOME TAX TO LHDN @ IRS OF MALAYSIA .
Many ‘small’ business especially food stalls get away with tax because they earn in cash and never declare their income.
Not only that, we should reign in unnecessary and excessive government spending. Do we really need to spend millions of ringgit refurbishing the prime ministers' residence?
Your public civil service is full of incompetence and full of bloat. It is 25% of the total government budget. It's not a matter of more or less tax, it's about fiscal discipline.
@@saidali8418 no you're right but the percentage of ppl eligible for taxation is too small
Even wage is not following the inflation rate still stuck 10 years behind.
this is one of the reason bosses become richer, and the workers stay poor
The problem with taxation in Malaysia is how the government spends money. Malaysia has issues with over-centralization, big government (massive welfare state and civil service), bureaucracy, and corruption. These are all interlinked to one another. Over-centralization leads to big government which then leads to red tape bureaucracy which then leads to corruption.
What the Malaysian government should do is decentralize, return most powers that the federal government has to the state governments be it taxation, religion, police, healthcare, education, environment, labor law, commerce, etc. By reducing the power of the federal government and returning them to state governments, you cut down on the bureaucracy hence minimizing possibilities of corruption.
Secondly, the Malaysian government whether past or present has their hands in unnecessary programs. Examples: public spending on sports events, arts, cultural celebrations, overlapping healthcare programs such as those by MOH and Ministry of Women, Family, and Community, government propaganda through TV shows, Majlis Selawat and Zikir, PrEP programs, subsidies etc.
Thirdly, government policies allow and welcome protectionism along racial or political lines. Although the existing government has avoided protectionist policies along racial lines, protectionism is still existent and expanded especially among those who share political biases. Certain people get to import and export products, farmers aren't allowed to sell their produce directly, companies with certain connections get funds from the government.
The solutions to Malaysia's woes are decentralization and the free market.
@@muhdajmel9473 decentralization of taxation n education is unnecesary for a country of malaysians size n population. It may work for the US but we dont necessarily need to copy what the US is doing lock stock n barrel. We need a governance model that is customized according to our context
@mayfoo02
Decentralization of taxation is exactly what we need. The reason why I say this is because it is unfair that the federal government harvests the natural resources from states like Sarawak, Sabah, Kelantan, Terengganu, Perak, and so on then federal government gets to decide how they tax money collected from these activities are to be distributed. It is utterly unfair.
Secondly, it is not a matter of population or geography. Switzerland has a decentralized tax system with each Canton and Commune decide on the tax rate. Switzerland is a smaller country by population size and geography, so your argument about population size is quite invalid.
Thirdly, in regards to education, it's best to decentralize. Creating a unified education system is terrible for social cohesion. Let parents decide how they wish their children to be educated.
And it is not about adopting the American model. The American model allows the federal government to interfere with the Police Power of the state governments. Despite education falling under the states authority, the DOE still plays a big role in managing resources, etc. I tend to advocate a Swiss like model with a twist of thalassocracies unifying under a federation prior to colonization.
If you are Rosmah, you don't have to pay any Tax at all😅😊
@@charlieyang2613 many in the high up didnt pay either. Text dept. must disclose who are they. Many taxes shouldered by rakyat by paying 8% sst?
They got very big cables and connections that’s why they don’t need to pay. 😂.
Top 10 richest are Chinese
who is rosmah? is she my neighbour name?
Stupid Chinese. The article is about economies and taxation. Not your personal hatred. No school person.
Reduce tax incentives for foreign companies. Reintroduce GST. Remove subsidies on petroleum. Increase pay as only 2 million out of a 15 million workforce pay income tax. Balance the budget first before going on any spending spree which will also likely reduce corruption .
wow you're so clever. ok next round we'll vote you in to be the next PM. make sure you do all these
@@mayfoo02 hahaha Malaysian Oligarch gonna hire some guys and take him to barrel full of cement....
Nonsense. We could have saved RM38.5 million ringgit if Abah didnt spend it on unnecessary renovation of prime ministers residence.
its not as easy as you think 😂
@@sturmbrecher88 this is so so true.
As you rightly pointed out, Malaysia tax structure is similar to Spore. But how come Spore is so rich? The answer is in the structure of the economy. Imagine the size of Malaysia GDP is smaller than Spore despite having 460x land size! Same percentage of tax to GDP to my mind is not the issue. The issue is Malaysia must have higher component of high value adding economic activities. Tax income will follow
did you listen carefully enough.. go listen again
Singaporean is hardworking while malaysian malay is not
@ Highlight
Per capita. Landsize doesn’t count
I haven't played Spore in years? Which planet and which expansion pack?
Very nice analysis. A lot of food for thought. I always argued for years it was foolish to remove the GST because it was politically convenient
@@ALong-fo5so i dont honestly think its much of an analysis
Rather its a rehash of what the americans r doing.
1. No GST
2. Large foreign companies not taxed
3. Tax base too small
True, gst is the true equaliser
@@jcl644 i feel like if a lot of people were to be taxed it would definitely make a big difference considering most malaysians dont even get taxed because of how little they earn
1. Teach your citizen global High Income skills.
2. Your citizen get high income jobs.
3. You get high income tax.
4. You get richer.
5. Offer your citizen investment plan.
6. You get more richer.
7. Build more critical infrastructure.
8. You get more richer
Brain drain? So what. Tax their expenses and assets. High debt? Pay your fking debt and sell your hard asset. And boom businesses go crazy.
Money got stollen and paying high dept
you shold tax the rich not the poor.
This is exactly what a poor pathetic freeloader would say. The rich pay more taxes in a month than you would in an entire year.
They will leave the country 😢
The rich deserve to be rich because they were chosen by god to lead people who are not rich (saw a parody video that said something along those lines over s decade ago)
and the poor one that make most noise when the government try to tax the rich and ultra rich 🤣 what an poor idiot
And our country pretty much does that.
Govt spending dilutes the tax rev to GDP ratio. This is evident by how the country's infrastructure has improved to unrecognisable levels as it was just 10 years ago. That ratio was considerably high because as you've said yourself, Malaysia used to be a resource-based economy, while improvements in infrastructure wasn't really a thing in the 80's. Just my two cents
Increase taxes on the people will only increase the burdens on them. Inflation will rise higher and higher, even basic necessities becoming more and more expensive. People may cut back on spending resulting in slowdown in consumption and the economy as the whole. Shops
and businesses will close down due to slowdown in businesses. And as a result less jobs and high unemployment rate. Crime rate may go up.
Already 2 million people migrated out to other countries, more will follow if taxes become a heavy burden on the people.
So think twice before imposing more taxes on the people. Do not blindly pursue high income status that may cause more harms to the country.
For foreigners, malaysia is tax heaven!
shut up
Taxing citizens that can't receive benefits , need to be put into consideration also .. all the hard work and someone else enjoying is not fair as well .
Why not try the cayman approach? Little to no taxes domestically, 20% tariffs, business licenses, and stamp duties?
All these can be solved with having a much smaller goverment with abolishing many unwanted goverrnment departments and bereaucracies. From this, no more wasteful allocations of government's money.
Depending on high taxes collection for national expenditures only solving short terms problems before population shrink gradually in future.
High tax rate always correlate with low birth rate pattern
Malaysia needs to abolish all personal income taxes and reduce the corporate tax by half. Other countries need to learn from Malaysia.
no one willing to accept the implementation of GST simply bcos few reasons - LOW Wage, increase of price of goods once its implemented, corruption by the then government, its poorly implemented. Malaysia income are only benefitting certain areas and not other parts of Malaysia.
The Tax Base in Malaysia is also much smaller at probably about 20% of the population possibly less too. Muslims in Malaysia are required to pay zakat & whatever is paid to Zakat is offset against their tax. Whilst on the other hand the nob-Muslimd only get a relief in the taxable income.
The Goods and Services Tax (GST) represents the optimal solution. The current government’s assistance from a foreign entity overthrew the previous administration, which was reluctant to elevate Malaysia’s economic status beyond that of its neighboring country, the Asian Lapdog, akin to the fate of Japan. As the adage goes, “To be an enemy is perilous, but to be a friend is fatal.”
All countries in the world uses GST for better tax collection and transparency. Pray for madani govt to adopt this taxation methodology
They cannot do that..... For years, they keep chanting GST is bad.... If they adopt it just same eating their own poop
Madani govt abolish GST, now want GST back?
If you tax the rich, then do you think you can attract the Billionaires CEOs who come and open 10 or 20 stores and employ 1000 or 2000 staff?
So you chase 1 rich billionaire away, and he close 20 stores or companies and thousands lose jobs..
Not the jobs we want for our citizens
No matter how good your taxes systems,if government departments and ministers doesn't take action against corruption in GLC and custom and and boarder line (smuggling), Government wastage should be stop first before implantation any taxes system.Politician had has privileged in case of tax invasion and projects from ministers (no open tenders for projects multiple 100 millions under previous government under BN parties).
All monies collected by custom and taxes agencies allocated to ministers only benefitted few politicians cronies and parties members.Honest and good practice Business man doesn't involved or not invited (no base on contractors performance and financially stability and good practicing)to tender for the reasons much give bribery to others agencies in order to smoothly progress the project and completed it.
The ministers pay was way higher than average gov workers . Should reduce that first
Asia's people very hardworking
Taking debt give you consistent negative returns but somehow governments never understand that. Pay your debt and stop making debt.
Thanks for the explanation.
Please also discuss Indonesia on the same topic. Currently it is a very hot issue with the increse VAT rate from 11 % to 12%
The Rich are already paying 30% tax. The problem is the wastage and leakage. Ask the Govt who much is earned by privileged on Approved Permits, Bumi allocations on new IPOs. These are pilfered away and not counted in the tax/GDP%. Stupid analysis!
How about spending wisely?
Best way is to eliminate Income Tax altogether. Income are marginal and very small amount. Replace with 2.5% tax on unused Asset. These asset should be at least 1 year doing nothing. not contributing to economy. These kind of assets are humongous among rich people.
(ie.. Zakat system)
I just hope malaysia dont end up like the current US, which is late stage capitalism where corporations and ceos have political power. I'm seeing Malaysia strengthening their relationship with the US, and that's great but I dont want us to adopt their system.
Im find with it.. if coountry can survive it self.. with lower tax.. so no prob right... All the high income high tax country do they do good?.. i dont think so..
Even we have Petronas but in early days in the 80an our government invested in carrian group of Hong Kong that turn out as scam, we lose more then billion US dollar that time😂 and government cover it with Petronas revenue
and our beloved drm involved in it.. we are rich with so many advantages but we don’t have people that can lead the country..
Gst for everyone. No more free money. No more subsidi. Just better pay every year.
Its all back to prejudice that resulted in a divide of most business owners and the government policies.
Tax can be paid into Zakat, ringgit for ringgit... so if 50% (no idea the quantum) are paid into Zakat, then tax collection comparation w other countries are orange n apple. 'Normal tax paying malaysian' will be tax to death 😅😂😅😢
Tax was and never will be a source of income for gov, is merely just a tool to slow down inflation albeit is not that effective. Ppl really need to stop linking gov income with tax.
collected tax can be use for helping people more
Rosmah need not pay taxes as she is above the law. Get her to pay and go after all the politicians, government servants who are corrupt, and the businesses who are not paying tax. Bring back the GST and we will have a good system where everyone pays taxes on cigaretts, alcohol and vaping .
End subsidies that will save cost.
GST is good tax as more will be paying it
.most economies has gst or vat😊
Malaysia has a lot of problem
Regardless, all will go down with curroption
High income society for the politicians only. Develop only a few states
Totally wrong analysis. A correct analysis is to start from where author already stated - Singapore also has the same problem But why has it leap-frogged over Malaysia? It's not a tax problem, it's called macro economic management coupled with socio-political structures. There is so much inefficiency in the Malaysian system that no micro-adjustments like adjusting or implementing new tax or increasing the tax base is going to help, in fact it may be counter-intuitive because it may drive rich people away and cause the already suffering majority even more hardships. What we need are complete change of mind sets and political will. It may be a bridge too far because the current bunch of political leaders are rent seekers who will not give up their gravy train. So, Malaysia will be stuck - which is such a waste since it held so much promise before that autocratic leader came to power and destroyed the future of Malaysia. You read it correct, one leader with a defective vision held ransom on the country and ruined its future. It may take generations to undo the harm, that is even with half the political will to implement the necessary changes.
increase healthcare cost in gov
Isnt tax our internal matter, thats wobt involve & benefits foreigners like you? Then why you are so concern?
Biggest tax payers are business owners , not the workers! Mean rich people like you, whom objecting government not to increase that tax value since 80's!
2. So foreigner like you cant pursue our government to implement GST since your own data included 2015 gst, which also lover than non gst era before 2010!
So better advise your fellow rich people to contribute more of their taxes as per their profit reports, which our corrupted LHDN failed to go through even though 90% corporates proudly shared their financial year records & bank statements without confidential protection! So its the IRD @LHDN whom failed enforcing higher taxes from those high profits!
Until today all telecom companies are NOT paying their tax profits, instead they collect additional from clients like me as GST , then just transfer to IRD Malaysia!. This is not tax from telecom companies! Instead tax for purchasing!
They should put high taxes on all the politicians, MP, PM and the rich billionaires in Malaysia. This hypocrites liars are over paid and creating problems in Malaysia. Malaysia workers are underpaid and the big corporations and businesses companies are marginalized their workers with low pay and welfare.
the problem is malaysian average salary low
also another good point.
Malaysia itu ekonominya mirip china negara berkembang yang maju artinya negara berkembang tampilan zeperti negara maju tapi ekonomi masih menengah
Pertama sekali, China adalah sebuah negara maju. Dan perlu diingat bahawa ekonomi kebanyakan negara maju berkembang rendah sejak pandemik Covid-19. Namun begitu, Malaysia adalah sebuah negara yang sedang membangun. Apabila sesebuah negara sedang membangun, bermakna aktiviti ekonomi juga sedang rancak berkembang. Untuk menjadi sebuah negara maju, sektor perindustrian berat dan industri pertanian berasaskan pengeluaran produk amat diperlukan untuk menjana peluang pekerjaan, membawa masuk teknologi serta mempelajari crucial skill sets. Indonesia berada di belakang kerana masih mengamalkan ekonomi berasaskan penjualan hasil bumi. Untuk mengembangkan ekonomi, hasil bumi tersebut perlu diproses menjadi produk yang boleh digunakan, dijual dan dieksport.
😄😄🤣ENGLISH PLEASE🤣😄😄OiC 👎!Q, when a 👎 !Q individual tries to give an opinion, its really funny🤣🤣🤣
Hadeh perekonomian Indonesia itu
40 % didorong oleh industri
40 % jasa
Dan sisanya hasil alam
Kamu perlu belajar lebih banyak lagi tentang ekonomi Indonesia lol@@muhammadzayanizulkifli620
THE UK takes 20-40% of your salary for tax. On top of that you are also forced to pay health insurance. Yet you get shitty healthcare service. House rents increase every 6 months. The transportation is extremely expensive.
PH tak patut mansuhkan GST!
AI voice?
Most here dare not talk real issue
...r n r
This channel is sooooo obsessed with Malaysia other than other Southern Asia countries... Some of the information is false! #pdrm #mcmc
if anyone had play any economy simulator games, like victoria 3, you will know that it is not just simply increasing tax, because increasing tax alone will put more burden on those that paying those tax, and increase animosity toward that tax. what a country should do is broaden the tax. tax those who are not tax/able to evade tax. one of that is gst, because by using gst it will expose most business of their gross profit hence taxable. tax those gray economy
alas, most malaysian loves sweet and free stuff. ignorant of the disease that will come with and the broader economic important, selfish and greedy. free this free that. abcd gst bullshit. so here we are. i've been against these lies. i am blamming most malaysian for believing those populist parasite
This has no correlation between what people revinue vs government tax. It has no correlation at all
High-income but living cost in Malaysia is extremely cheap. Their power cost, petrol cost is really competitive compared to other Asian countries. What a heaven!
Despite increased salary of 1.7k & Sspa for civil servants with stages but cost of living are level up & challeging for madani goverment under pmx dsai premieship
Corporate tax down personal income tax up enough said 😅
Good¡¡
Switching to GST and reducing oil subsidies
Katanya KETIMBANG
KEncing TIpu seMBANG
Katanya KETIMBANG
Saya ulang!!!!
🤣🤣🤣🤣🤣
Malaysia is already OVERTAKEN by Philippines and Vietnam in terms of national GDP. 😊
U have to compare GDP per capita, it is more fair. High population country tend to have high GDP than less populate country.
@ashrafzaki8046 true, but the advantage of high national GDP is more income for the government and massive government projects as a result.
Malaysia has way better infrastructure, universities and economy on the per capita level.
Yeahh pinoy is better..What your gdp per capita???? 😂
@@klopkerna3562 there's no question that Malaysia is much better per capita but the potential for future growth in terms of national GDP leans favourably for higher population countries like Philippines and Vietnam especially with high GDP growth. Philippines today has very modern little cities like BGC and more are coming while Malaysia can't match it because of fewer population. That's the good side of a bigger national GDP. The room for growth is also big as well.
Malaysia of course is way above per capita and it's good but speaking of future growth, the countries with higher population like Vietnam and the Philippines has the edge. For similar reason, Vietnam and Philippines will soon overtake Thailand's national GDP. 😊
This video have been paid by ANWAR to increase the TAX
It is all about privilege to cause brain drainage
All countries in the world uses GST for better tax collection and transparency. Pray for madani govt to adopt this taxation methodology