Liam wants government to remove eight per cent tax on investment earnings

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KUALA LUMPUR: The Life Insurance Association of Malaysia (Liam) wants the government to remove the eight per cent tax on investment earnings that is currently imposed on life insurance funds in the 2011 Budget to be tabled in Dewan Rakyat this Friday.

“We hope the government will remove the tax as this can allow more people to enjoy the tax relief,” its president, Adnan Zain, told reporters after the launch of ‘Insurance Day Nationwide Blood Donation Drive’ here yesterday.

The event is jointly organised by Liam, National Association of Malaysian Life Insurance and Financial Advisors and General Insurance Association of Malaysia.

Earlier, Adnan said the Insurance Day celebration, from October 11 to 17, 2010, aimed to attract at least 2,000 donors nationwide for Pusat Darah Negara.

“In this respect, we hope the public will come and show their support at the various venues across the country,” he said.

The event collected 126 bags in Kuantan on Oct 3, he said. — Bernama