+1

May I also post my first and final word here to clarify the usage of the term "waiver".

Like I explained to wKkay also, the bank has no right to "waive" tax which is imposed and to be collected by tax department. The banks are merely collecting from the customer, hence the billing; and pays to the tax department.

They can however have usage programs which if one qualifies, the banks will discretionary "pay on-behalf" of the customers. Even for customer whom defaulted on their payments on card, the bank still has to pay the tax department the RM50.

Since Credit Card section sits under Finance umbrella, we should advocate responsible financing and refrain from giving the perception (especially to new guys) that the banks "waive" this tax.

The original intention of this RM50 tax per card is not only meant for Government Revenue which everyone perceive, but also to deter over-leverage on cards which is one of the contributing factor to the rising household debt. The banks does not profit from this tax collection.

So pls for everyone whom has posted in this topic and are also regulars in Credit Card section; advice accordingly and refrain from giving out the perception it is a waiver from the banks. It is the banks paying on-behalf.

Btw, banks are not allowed to "advertise" blatantly that they are "waiving" tax, hence OCBC Titanium case; I honestly do not know how it went through the compliance department because they can be fined by the tax department and BNM.

This post has been edited by b00n: Aug 30 2013, 07:54 PM

+1

Just to add for the OCBC case, they are using the term 'Auto GST Redemption' upon a minimum retail spend/cash advance per annum.

thank you for the unbiased view, this should set a very good example that there is no one man show in a specific section that allows him to delete comments freely.

before arriving to the judgement, he still kept on deleting other members' and my posts, should there be any action against hye? he should at least apologise for the mistakes he had done and not act blind over there. he sets such a bad example and unfit to be a moderator!

Actually, we provide hye and other section moderators the autonomy to run their sections as they please. They can set rules and enforce them. What hye did is well within the boundaries we set, so no apology is needed.

However, the rules can be contested, as you have done.

I think our shortcoming, as a moderating team, is that we weren't decisive on whether we wanted to continue or change this rule. This matter really should have been closed in May.

While I have your attention, I would like to point out that you that you have acted in an unbecoming manner when you lashed out insults at hye. We normally take action on that, but in this case I have made an exception as I saw that you only did it when you weren't getting any response. I ask that you refrain from doing that in the future.

Thanks.

Removed. This isn't a competition and we don't keep score here -wK

This post has been edited by wKkaY: Sep 4 2013, 11:37 PM