Service tax RM50 on credit cards and charge cards

Bad news to Malaysia credit card holder. According to Malaysia budget 2010. Malaysia Credit card are being used extensively. The number has increased from more than 2 million in 1997 to 11 million as at August 2009. excluding 285,000 charge cards. To promote prudent spending, the Malaysia government proposes that a service tax of RM50 per year be imposed on each principal credit card and charge card, including those issued free of charge. The Malaysia government also proposes that service tax o