As my russian wasn't super good, I googled and I found the news written on Johnny Ong's blog.
Malaysia was blacklisted by the organization together with Phillipines, Uruguay and Costa Rica, which sounded kinda degraded and disgusted.
In Johnny Ong's blog, he wrote as an introduction for his blog "The first big news to greet him on his office table is that Malaysia has been blacklisted by a world body, Organisation for Economic Co-operation and Development." which sounded kinda hilarious to me.
Imagine you being Najib Razak, you stepped into your office and your secretary came telling you about this story, how would you react? I'd be shocked!
Maybe Malaysian government has a piece of good mind of making a new local tax standard. I hope it will be a good one, if not, I'd laugh at you so bad. But being blacklisted by the World wasn't a good thing after all.
Perhaps this is a good way to make the word "Malaysia" more famous worldwide.
-Hi, where are you from?
-I'm from Malaysia.
-Ooooo...the one of the blacklisted country?
-...........ermmm......yeah
-How do you think about that?
-.........
-How's the taxing system now in Malaysia?
-........ask my dad!
-Dad : *deep inhale* - *long sigh* - *shake head* - *deep inhale* - *long sigh*
If Malaysia do not comply with OECD strict requirements, the following sanctions will be imposed on Malaysia:-
• Increased disclosure requirements by companies and individuals using tax havens
• Withholding taxes on transactions with tax havens
• A ban on the use of interest paid in a blacklisted country to offset tax
• Reviewing tax treaty policy
• Putting political pressure on global companies to withhold investment to a haven
• A reduction in aid
• Scrapping of tax treaty arrangements
• Imposing additional taxes on companies that operate in non-compliant countries
• Tougher disclosure requirements for individuals and businesses that use shelters
• Withdrawal of financing by the World Bank or International Monetary Fund
Switzerland, Singapore, the Cayman Islands, Monaco, Luxembourg and Hong Kong are among 45 territories blacklisted on Thursday by the Organisation for Economic Co-operation and Development and now threatened with punitive financial retaliation for their banking secrecy. Of the offending jurisdictions, 40 "have committed to the internationally agreed tax standard" but have yet to implement it. Only Costa Rica, Malaysia, Philippines and Uruguay have refused to sign up altogether. Jersey, Guernsey and the Isle of Man are fully compliant already.
Let's hold hands and wait........see what will Malaysia say about this.
Will it be published in the local newspaper or to cover up the smelly ass?
I love to travel but don't wanna apply for visa. Should I migrate then?
Kochi~
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8 comments:
It's good that king brought this issue up, at least we knw abt our country current situation in international stages! And if our leaders doesn't want to co-op, then they leave us no choice but to migrate. Who dare to live in black-listed country?
it has been published in the newspaper and the govt has said that malaysia shouldn't be in that list as malaysia complies with all tax standards ....... just like that only
Maybe this union want to get a bribe from your government? And those riots wasn't casual?
I have no idea. We don't see whole things of this black political games.
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