Recently I posted about all employees who are contributing to the Employees Provident Fund (EPF) have the liberty to choose to contribute either 8% or 11% of the monthly salary from end of this month onwards for two years. The Government thinks that by putting more money in the people’s pocket, they would spend the money and boost the economy.
But from end of this month onwards as well, all employees are paying more monthly income tax as compared to last year.
So on one hand the Government wants the people to have more money to spend but on the other hand the Government wants people to pay higher tax.
Does it make sense or not?
Does the Government know what they are doing?
The mind boggles …
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