Malaysia needs to retire Robin Hood
Anwar’s government should instead focus on the fundamentals.
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Today’s brief dives into:
PM Anwar’s half-baked approach to taxing the rich
Axiata’s misadventures in Nepal: a redux
A few months into Prime Minister Anwar Ibrahim’s tenure, the term Robin Hood was bandied about to define his populist approach to economic policies. This was the moment many were waiting for. Finally, a prime minister that could help us ordinary Malaysians eat the rich.
Anwar mooted the capital gains tax (CGT) and the high-value goods tax (HVGT). Targeted subsidies would also be the flavour of the day. The rich shouldn’t benefit or steal from the poor. It’s time to level the playing field. There was the low-value goods tax (LVGT) on imported goods below RM500, but that was okay. The country needed to broaden its tax base and we all had to play our part.