I wish to convey my opinion on how the Penang state government can improve its tax revenue collection for the sake of welfare and development projects. One of the sources of tax revenue for state authorities is quit rent, which is a form of tax that is imposed by the municipal councils in Penang on all properties within its areas of jurisdiction, i.e. quit rent = annual percentage rate x annual value of the property.
Based on the Penang Island Municipal Council’s (MPPP) website, the annual value of the property is defined as the estimated annual rent which the owner of a property is expected to derive from it, with the owner bearing the cost of repair, insurance and other necessary expenses.
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