In a separate memorandum to Parliament, a pensioner's lobby group says the removal of the pension tax exemption for retirees above 65 will make them receive significantly lower payments.
The new taxes will also see the prices of liquefied petroleum gas, helicopters and aeroplanes not exceeding 2,000 kg, tractors, (other than road tractors for semi-trailers), aircraft pneumatic tyres, and materials for the manufacture of automotive and solar batteries go up.
A new tax to be known as minimum tax has also been proposed to be charged on the gross revenues of all loss- making companies.
Other fees previously exempted from taxes but now to be taxed include entrance fees or annual subscription to a trade association, and club subscriptions paid by an employer on behalf of employees.
In appealing to Parliament to endorse the taxes, CS Yatani noted that the government was keen on recouping revenue losses that had come with recent tax reviews in the stimulus package.
