According to the Malaysian Deputy Minister of Finance, Datuk Chor Chee Heung, GST is a consumer-based tax, and will be charged on the people only when goods were bought and services provided. When we buy, only then there is tax, if there is no purchase, there's no tax
The long-term objective of the GST was to reduce income tax collected from the people.
The current service tax will be abolished.
Chor said the government was conducting various form of studies and was developing a GST computerised system to ensure transparency and efficient GST implementation in the long term.
Nearly 90 per cent of the countries in the world have implemented the GST. We have adopted the model practised in Singapore, Australia and Canada to make comparison.
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My 1 sen worth : looks like the government is not very ready to implement GST come end 2011, unless the study mentioned can be completed by mid 2011 (which is just 12 months away).
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