Budget 2010 brought along a bad news for credit card users. Now, the government will charge RM50 for every principal card and RM25 for every supplementary card! So, we have to return all our cards now...
It claimed that this is to promote prudent spending! What sort of crab is that! I hope the credit card company would absorb that RM50. Otherwise, my wallet will now be much thinner with less card. Perhaps this is a good thing.
RM50 service tax for card holders
A SERVICE tax of RM50 will be imposed on each principal credit card every year beginning Jan 1.
For every supplementary card, a RM25 service tax will be charged yearly.
The move to impose this tax is to promote prudent spending as the use of credit cards is extensive. The number of cards increased from two million in 1997 to 11 million as of August this year. They exclude the 285,000 charge cards already issued.