LABUAN (Jan 2): The Labuan Corporation (LC) has no plans to raise assessment rates this year, and will, instead, use revenue collected for services provided to administer the island.
LC advisory council member Simsudin Sidek said the revenue included charges for putting up banners and billboards, fees for business licences, rental, development fees, planning fees and fines.
He said the local authority was taking a careful approach in spending the amount budgeted for 2019.
“We do not want to burden the people, especially in view of the rising cost of living now.
“Raising assessment rates will just make matters worse for them,” he said.
Labuan Chinese Chamber of Commerce president Datuk Wong Kii Yii urged LC to maintain the existing assessment rates.
Speaking at the chamber’s New Year Dinner at the Fishermen’s Wharf here yesterday, Wong said the chamber, along with the Indian and Malay chambers of commerce, would continue to highlight the business establishment’s grouses to the government in the interest of the island’s economy.
He said the local authority must have a dialogue with the chambers on the revising of assessment rates prior to its implementation.
LC deputy chief executive officer Rithuan Ismail, when contacted, said the assessment rates would remain the same for 2019 but the new assessment, in accordance with the revised valuation on property, would be implemented in 2020.
He said the new assessment was supposed to have been implemented last year but was deferred at the request of the chambers of commerce.
Rithuan also said that the current assessment had not been reviewed since 1994.