Credit Card Service Tax – To Cut Or Not To Cut?
According to The Star newspaper, government has already confirmed to impose service tax for credit and charge cards from next year (January 2010). The service tax for principal credit and charge cards is RM50 and the service tax for supplementary cards.
For those who apply a new card next year (2010), he or she will need to pay the RM50 service tax upfront. For those who already have credit cards now, the charge will be imposed on the anniversary date of cards.
Utilize Your Credit Card Free Interest Period
Do you aware that your credit card has a interest free period where you can use your credit card to buy things and pay back the credit later without having to pay for the interest?
Service Tax On Credit Card
With the recently budget announcement by the Malaysia Government for year 2010, credit card user needs to pay service tax on credit cards and charge card for RM50 per year for principal card and RM25 per year for supplementary card. I think many people have decided to cancel their credit cards so that they can pay less money for the service tax.
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