Malaysia is trying to get the ultra-rich to pay more through the removal of fuel subsidies and other measures, but there is a simpler solution, says an ISEAS - Yusof Ishak Institute academic.
, presented by Prime Minister and First Finance Minister Anwar Ibrahim on Oct 18, popularised the “Top 15 per cent” category. It refers toThe issue of well-heeled kids enjoying subsidised residential schooling has simmered for years but Anwar has given it a stridency by slamming the indulgences of the “maha kaya” in recent months.
Petrol, in contrast, is constantly consumed at stations across the land. Malaysia has floated the price of RON97 since May 2018 but T15 car owners cannot be compelled to use the higher grade petrol; they can freely consume subsidised RON95. Second, the enforcement of differential petrol prices at the pump faces steep hurdles due to the sheer volume and generality of the subsidy.
The premise for making the T15 forego fuel subsidies is the same as making them pay more income taxes: They can afford it.
Malaysia Budget Anwar Ibrahim Subsidies
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