There will be no surprise in government’s annual budget that ‘sin’ tax will be increased. Sin tax means tax for tobacco and alcohol products. So, i also address these products as sin products, haha!
I still remember that Peter Stuyvesant tobacco is just RM 4 a few years back but due to heavy taxation, it’s now RM 9, more than doubled! And my dad is still puffing in and out without feeling sinful! So as the price of alcohol.
Since these kind of sinful products are actually no difference from drugs, addicted people will be addicted for life, ya, till they day they end up in tomb. So, even if you sell a pack of cigarette at RM 50, I believe they will still buy (they might smoke less, but they will not STOP smoking!).
World 2nd largest public listed tobacco giant - British American Tobacco reported a 20 % increment of before-tax profit.
What say you?
I still think that it is good to increase the tax. If they are adamant at exposing non smoker to second hand smoke, at least they should be paying for it. Although non-smoker are not directly benefited by it, it is still a good way to punish them. Making BAT happy will entice them to invest more in the country and fuel up the economy. People in general will be benefitted from this. So, even if the the policy makers do not do anything right, at least this is not far off.
ReplyDelete... Forgive, and you will be forgiven. (NIV) 37 Judge not, and ye shall not be judged: condemn not, ...
ReplyDeletewhat is that? what is NIV 37?
ReplyDeleteIt is good to increase sin tax but it has to be reasonable. Do you know that tens of thousands of Malaysian are working in BAT, Guiness, Carlberg, etc ? If you increase the tax to an extent that their sales are significantly affected, their employees will have to be laid off.
ReplyDeleteSo, the whole thing is to strike a balance. Tax them but not too unreasonably.