So, the Goods and Services Tax (GST) will not be implemented yet in the near term, at least not until some issues are being tackled, said the new Second Finance Minister Datuk Seri Ahmad Husni Hanadzlah. Amongst others, the Government is taking a holistic view of the GST implementation, and will address issues such as :
1. studying the GST implications and rate to be
imposed
2. engaging with politicians, the private sector
and the general public before arriving at a decision
3. relooking
the earlier study by taking a holistic view of it
4. see the GST from the point of prosperity of the people (not just the point of view of the Government's revenue generation)
5. looking at
providing some assistance to the people, in tandem with the government's
intention to reduce corporate and personal tax
In terms of the GST rate, the government is looking into it in
terms of its benefit to the government, the private sector and the
general public.
In other words, a review is being made on the GST implementation, and no timeline is set yet for
the implementation of the GST.
More time is needed to study the GST implementation
Source :
Bernama report titled "Government Will Not Implement GST In The Near Term"
Dated : May 30, 2013
