As a measure to increase Government revenue, it is proposed that with effect from January 1, 1999, a windfall profit levy be imposed on crude palm oil and crude palm kernel oil as follows :

Price Range
(RM/ton)
Rate of Levy
(RM/ton)
Less than RM 2,000 NIL
More than RM 2,000 but less
than RM 2,050
The difference between the selling price and RM 2,000
RM 2,050 and above RM 50
 
   
  As a measure to reduce gambling activities, it is proposed that the tax/duty on gambling activities be increased as follows :
Tax/Duty Present Rate Proposed Rate
Gaming tax 7% 8%
Pool betting duty 5% to 11.5% 10% to 12%
Casino win duty 22% to 25% 25%

The proposals will be effective from November 1, 1998.
 
 
  Presently, both vintage cars and classic cars are subject to road tax at 20% of the prevailing rate. It is proposed that road tax for vintage cars be reduced to 10% of the prevailing rate.

Vintage cars refer to those registered before 1941 while classic cars are those more than 25 years of age.

The proposal will be effective from October 24, 1998.
   



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