If someone from the Finance Ministry is actually reading this blog, please consider this list for the Budget 2009:
1. Abolish the ridiculous tax on Employees Share Option Scheme. The tax structure is so ridiculous that employers no longer want to give ESOS to their staff. It is no longer profitable. I find it rather funny because there is no tax for capital gains in Malaysia. ESOS, however is taxable. Where is the logic? ESOS is given to employees as an incentive for their productivity. Why tax these poor people?
2. Reduce the personal income tax
3. Increase corporate tax.
4. Reduce or abolish road tax for all types of vehicle
5. Allow individuals to withdraw their EPF contributions to perform the Haj.
6. Give tax incentives to industries using renewable energy or producing green energy.
7. Make the polluting industries pay more tax.