Five more taxes coming. One of it to make us stay healthy… Savvy?

Five more taxes coming. One of it to make us stay healthy… Savvy?

We could not run away from taxes. Well, unless of course we have a business and we could afford experts to help us navigate so that we pay exactly only on the ones we have no way to escape from. Else we have to be experts in navigating through things which has taxes and stay away from them! How do we stay away?

If they say we will increase taxes on cigarettes, then stay away. We will be healthier too. If they say there is a tax on unhealthy food then stay away from unhealthy food. How hard could it be? Just not eating those deep fried oily food… Or skip those super flavourful food which could make us drink more water afterwards… Or those super sweet stuffs… Would bubble tea be under unhealthy drink I wonder.

Ready or not here are the new five taxes of which one is to help us become healthier.

Article in nst.com.my. The government is expected to introduce five new taxes in the 2025 Budget, aimed at promoting healthier lifestyles and sustainable living.

As reported by Utusan Malaysia, the proposed taxes include the unhealthy food tax, carbon pricing tax, inheritance tax, high-value goods tax (HVGT), and Artificial Intelligence (AI) tax.

The report said economic analysts expect the unhealthy food tax to be implemented in response to rising obesity rates and lifestyle-related health issues, as indicated by the 2023 National Health and Morbidity Survey (NHMS), which found that 54.4 percent of Malaysians are overweight.

The carbon pricing tax is designed to support the country’s economic agenda and combat climate change, in line with the goal of achieving net-zero carbon emissions by 2050.

Additionally, the inheritance tax aims to prevent the accumulation of unproductive wealth within families, which could help reduce wealth inequality. Do read the article in full here: Article in nst.com.my.

Unhealthy Food Tax

Whoa… I am very sure this will stop many of us who needs to stay healthy. That includes me as well. This is because I am also overweight currently. Let’s stay healthy together then and stop eating all these unhealthy food. At the same time, we pay less tax. 🙂

Inheritance Tax for UNPRODUCTIVE wealth

Sorry, I do not understand the rationale for inheritance tax but I think the authorities would know it better. As for unproductive wealth, let’s understand that there are definitely wealthy people who just keep their money and continue to spend the interest generated from it. I do not know if this is also termed as unproductive wealth?

Will just have to wait for the full announcement and details since media reports may not have the full picture. Cannot afford to listen to analysts alone. We need the actual statement from the minister concerned or perhaps from our PM himself. What I can safely say is that the super-wealthy will not like this if indeed this is coming.

Looking forward to the news.

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