When will GST be introduced in Malaysia? There was speculation that the GST will be tabled for second reading in the Parliament session in Sep 2012. However, the Deputy Finance Minister announced today the GST will not be imposed in 2012 because the Malaysian government is focusing on creating awareness on the new taxation mechanism among the people.
"It's not likely to be tabled in the next Parliament session as the awareness campaigns will not have concluded by then," said the Deputy Finance Minister Datuk Donald Lim Siang Chai **
Just to recap, the first reading of the GST Bill was tabled in Dec 2009. The second reading which was originally scheduled for March 2010 has been postponed until now. GST was supposed to be implemented in middle of 2011 to replace the sales and services tax.
Every important person in the Finance Ministry has mentioned that "we
want everybody to understand it first" before GST is being impleemnted.
However,
in my opinion, after 3 years, there is still lack of 'awareness' program being held.
Apparently 122,000 companies will be affected by the GST
implementation. Has the government gone to these companies (or their
associations) to get them prepared?
So, another year has passed by since the hoohah on GST announcement
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