Service Tax Credit Card

Service tax of rm25 will be charged on each new primary and supplementary credit cards upon activation of the credit card.

Service tax credit card. Credit card holders will be charged with an annual rm25 service tax which is expected to contribute an additional rm225 million to the national revenue. Tax credits are allocated each year and awarded on a competitive application basis to nonprofit organizations. The existing effective period of the card will not be subject to service tax of rm25 until the next annual renewal. Under the service tax rate of tax order 2018 lim said rm25 will be charged for each principal credit card or charge card on the date it is activated or the date it is renewed and every time the card is renewed.

For existing credit cardholders service tax of rm25 will be charged on the anniversary month of each of your primary and or supplementary credit cards. However this could lead to a drop in the number of credit and charge cards being used just as it did the last time such a tax was introduced. Principal card rm25 per card per year supplementary card rm25 per card per year 3. Meet your tax obligation in monthly installments by applying for a payment plan including installment agreement find out if you qualify for an offer in compromise a way to settle your tax debt for less than the full amount.

Each year since 1994 the community service tax credit program csp has given nonprofit organizations a way to improve their ability to undertake major capital fund raising drives for various projects. In other words the service tax of rm25 on each credit or charge card that an individual owns will be charged upon renewal of the card. Request that we temporarily delay collection until your financial situation improves. There are three methods for the imposition of service tax.

Find out more about service tax. I new card issued with a validity period for 1 year service tax shall be imposed on the date the card is issued. A service tax of rm25 is imposed upon activation of new principal or supplementary cards and on the anniversary renewal date every year including on existing cards in issuance as at 1 september 2018 i e.