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As a measure to increase Government revenue, it is proposed that with
effect from January 1, 1999, a windfall profit levy be imposed on crude palm oil
and crude palm kernel oil as follows :
Price Range
(RM/ton) |
Rate of Levy
(RM/ton) |
| Less than RM 2,000 |
NIL |
More than RM 2,000 but less
than RM 2,050 |
The difference between the selling price and RM 2,000 |
| RM 2,050 and above |
RM 50 |
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As a measure to reduce gambling activities, it is proposed that the
tax/duty on gambling activities be increased as follows :
| Tax/Duty |
Present Rate |
Proposed Rate |
| Gaming tax |
7% |
8% |
| Pool betting duty |
5% to 11.5% |
10% to 12% |
| Casino win duty |
22% to 25% |
25% |
The proposals will be effective from November 1, 1998. |
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Presently, both vintage cars and classic cars are subject to road
tax at 20% of the prevailing rate. It is proposed that road tax for vintage cars
be reduced to 10% of the prevailing rate.
Vintage cars refer to those registered before 1941 while classic cars are those more
than 25 years of age.
The proposal will be effective from October 24, 1998. |
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