RM10,000 fee will prevent selling of APs


JOHOR BAHARU: Imposition of the RM10,000 fee for each Approved Permit (AP) on AP holders will prevent selling of the permit that had caused the government to lose millions of ringgit in tax revenue, a deputy minister said On Monday .

"The government will get some tax revenue from the car business but gained nothing when people make money by selling APs," said Deputy Minister of International Trade and Industry Datuk Mukhriz Mahathir.

Going by the 2008 statistics, 381,000 cars were sold in the country, of which 10 per cent or 38,100 cars were imported used cars which needed APs to import them.

If the government had charged the RM10,000 fee for every car at that time it would have earned RM381 million in tax revenue, he said

The revenue could have been used for the people's benefits, he told reporters after closing a seminar on Mind Power in Leadership organised by the Gelang Patah Umno Division in Gelang Patah.

Mukhriz, who was asked on the 2010 Budget proposal to charge RM10,000 for open AP holders for every AP, said the fee will not have much impact on imported cars as they number between 38,000 and 40,000 units a year.

Open AP holders comprise sellers of second-hand, luxury and tuned-up cars.

The Deputy Minister said prices of the imported cars will be determined by market forces.

International Trade and Industry Minister Datuk Mustapa Mohamed will elaborate on the AP issue when unveiling the National Automotive Policy soon(this week), he added.

At the seminar, Mukhriz handed contributions to 90 people who will perform Haj pilgrimage in Mecca this year. - BERNAMA

Article type: metered
User Type: anonymous web
User Status:
Campaign ID: 1
Cxense type: free
User access status: 3
Join our Telegram channel to get our Evening Alerts and breaking news highlights
   

Next In Business News

Impiana Hotels secures 5-year contract to manage Petronas leadership centre
Serba Dinamik appoints Nexia as new external auditors
F&N posts higher sales in Q3, but rising costs dent earnings
Political turmoil weighs on Bursa
As China's recovery wobbles, economists expect more policy easing
Thai c.bank holds key rate at record low amid COVID-19 surge
Sony posts Q1 profit jump on pandemic demand for devices and content
LBS Bina records property sales of RM684m as at end-July
Airline industry statistics confirm 2020 as worst year on record
Merchantrade Asia, NPCI offer real-time remittances to India

Stories You'll Enjoy


Vouchers