REPEAL THE SINGLE-TIER TAX SYSTEM
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YAB Prime Minister of Malaysia Dato Seri Abdullah Badawi
Dear Sir,
REPEAL THE SINGLE-TIER TAX SYSTEM
Your announcement in the recent budget is a terrible blow and a shock to all retiress and lower income wage earners who invest in the stock market and depend on high dividend yield stocks as a form of income.
With the stroke of a pen, you have implemented the Single-Tier Tax system. Unfortunately it did not occur to us how serious the implication was until we read an article in the StarBiz dated 27 Sept 2007, and also the many letters from other readers of that newspaper.
Mr Prime Minister, by depriving us the opportunity to claim the refund from the tax on dividend at 27\% directly means you are imposing on us an income tax of 27\% wheareas many of us, especially retirees, have to pay very little tax! And the rich people must be laughing all the way to the bank because they now pay less tax for their dividends. This is so unfair!
Most retirees from the private sector dont enjoy pensions nor any other social amenities from the government yet now we are being taxed at this high rate for the dividends we earn. Is the government so desperate that it has to resort to taxing those who are not eligible to be taxed?
Dear Mr Prime Minister, please repeal this single-tier tax system, which is extremely burdensome, unfair and unfriendly to retirees and those who are no longer employed. We can never forgive this Government for this extremely unfriendly and uncaring act if it is not repealed. Many retirees are already having a hard time trying to cope with the high cost of living in Malaysia especially after the price increase in fuel, food, road tolls etc. We DONT need another BIG burden as in the deprivation of this tax refund.
We appeal to you to review and repeal this single-tier tax system with immediate effect! And if you persist not to repeal this act, then kindly explain to the raakyat why you have implemented this system that will affect very badly the retiress and the not-so-rich investors.
Dear Sir,
REPEAL THE SINGLE-TIER TAX SYSTEM
Your announcement in the recent budget is a terrible blow and a shock to all retiress and lower income wage earners who invest in the stock market and depend on high dividend yield stocks as a form of income.
With the stroke of a pen, you have implemented the Single-Tier Tax system. Unfortunately it did not occur to us how serious the implication was until we read an article in the StarBiz dated 27 Sept 2007, and also the many letters from other readers of that newspaper.
Mr Prime Minister, by depriving us the opportunity to claim the refund from the tax on dividend at 27\% directly means you are imposing on us an income tax of 27\% wheareas many of us, especially retirees, have to pay very little tax! And the rich people must be laughing all the way to the bank because they now pay less tax for their dividends. This is so unfair!
Most retirees from the private sector dont enjoy pensions nor any other social amenities from the government yet now we are being taxed at this high rate for the dividends we earn. Is the government so desperate that it has to resort to taxing those who are not eligible to be taxed?
Dear Mr Prime Minister, please repeal this single-tier tax system, which is extremely burdensome, unfair and unfriendly to retirees and those who are no longer employed. We can never forgive this Government for this extremely unfriendly and uncaring act if it is not repealed. Many retirees are already having a hard time trying to cope with the high cost of living in Malaysia especially after the price increase in fuel, food, road tolls etc. We DONT need another BIG burden as in the deprivation of this tax refund.
We appeal to you to review and repeal this single-tier tax system with immediate effect! And if you persist not to repeal this act, then kindly explain to the raakyat why you have implemented this system that will affect very badly the retiress and the not-so-rich investors.
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