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Do you still remember the new RM50 for principal credit card or charge card and RM25 for supplementary card service tax announced by Malaysia Prime Minister Datuk Seri Najib Tun Razak when he unveiled Budget 2010 in OCT 2009? Now you may get some clarification from Second Finance Minister Datuk Seri Ahmad Husni Hanadzlah regarding the credit or charge card RM50 service tax issue.

The clarification is as following:
1) Applicant issued with new credit or charge card will have to pay the RM50 service tax upfront start from year 2010.

2) Existing card holders, the charge will only be imposed on the anniversary date of card, which are usually issued for a three-year period.

For example, if the card’s anniversary date is in JAN 2010, then you need to pay the tax in JAN 2010; but if the date is in APR 2010, then you are required to pay the tax in APR 2010. You can find the valid date information from the credit or charge card. Usually the credit or charge card issuers will send a new credit card or charge card to the card holder before the stated valid date.