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Tuesday, October 02, 2012

RM30bil in car excise duty collected, says Najib

KUALA LUMPUR: Car excise duty collection from 2007 till last year totalled RM30.2 billion, Prime Minister Datuk Seri Najib Tun Razak told the Dewan Rakyat Monday.

A total of RM4.7 billion was collected in 2007, RM6.2 billion (2008), RM5.7 billion (2009), RM7.1 billion (2010) and RM6.5 billion last year, said Najib, who is also Finance Minister, in his written reply to Hee Loy Sian (DAP-Petaling Jaya Selatan) during question time.

Hee wanted to know the total car excise duty collected between 2007 and last year and whether the Finance Ministry intends to lower car excise duty with a view to reduce car prices for the people's benefit.

Najib said car prices are determined by several factors and not merely based on the tax rate.

Production, transportation, advertisement and distribution costs as well as carmakers and distributors profit are elements that ascertained car prices, Najib said.

"These elements are beyond government control. Hence, any proposal to lower car prices has to be studied thoroughly so that the outcome can really benefit the people besides helping to bolster competition in the local automotive sector in the long-term," he added.

 -Bernama

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