M'sia to implement 4% GST by Mid 2011
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http://www.theedgemalaysia.com/in-the-financial-daily/155908-4-gst-tabled-slated-formid-2011.html
There's no news over would M'sia cut corp/ income tax rate of 26%
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so is this considered a gd thing or what..
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Originally posted by QX179R:
so is this considered a gd thing or what..
good -
I see it's going to be hard to implement GST exemption tat easily as they mention thks to paperwork.
Might as well tax all and give e poor back some credits.
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4% considered nothing to them..
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Originally posted by QX179R:
4% considered nothing to them..
not tat over rate. They wanted to exempt tis exempt tat, citing e poor. -
but whether it's really meant for the poor remains to be seen..
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actually word is now tat the GST is to recover the falling oil revenue
Actually w/o cheap subsidised petrol, Malaysia has no competitiveness against any economy.
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anyway their corp tax rate gia nang, 26% leh
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Najib: GST to fill revenue hole
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No more subsidy if M'sia becomes high income nation: http://english.cri.cn/6966/2010/02/18/1361s550957.htm
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Malaysia delays sales tax plan
KUALA LUMPUR - MALAYSIA'S government put off a politically risky plan to enforce a 4 per cent goods and service tax, cheering opposition critics on Sunday who claimed it would burden the poor.
Prime Minister Najib Razak's administration had previously planned to debate legislation in Parliament later this month to impose the tax by 2011 in an effort to boost revenue by about 1 billion ringgit (S$418 million) annually.
The plan stirred fierce criticism from social activists, who insisted the tax would cause inflation to rise and unnecessarily trouble poor and middle-class earners.
Second Finance Minister Ahmad Husni Hanadzlah said on Saturday the government will indefinitely delay plans to debate the legislation until it can convince people that the tax would aid the country's economic well-being. 'It will depend on our engagement with the public and acceptance of the people on its implementation,' Mr Ahmad Husni was quoted as saying by the national news agency, Bernama. 'We do not want to put a time frame on that.'
Opposition activists, who had threatened to stage a protest against the sales tax outside Parliament on Monday, urged the government to completely scrap the plan. 'Perhaps the tax is not being imposed now because (the government) does not have a solid hold in Parliament,' said Mahfuz Omar, vice president of the opposition Pan-Malaysian Islamic Party.
Analysts have said the sales tax might spur public dissatisfaction against Najib's ruling National Front coalition, which is expected to call for elections in a large state on Borneo island sometime over the next year. The broad-based consumption tax is supposed to replace a narrowly applied 10 per cent sales tax and five percent services tax. It is meant to be levied on transactions at all stages of production of goods and services. -- AP
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Originally posted by QX179R:
Malaysia delays sales tax plan
KUALA LUMPUR - MALAYSIA'S government put off a politically risky plan to enforce a 4 per cent goods and service tax, cheering opposition critics on Sunday who claimed it would burden the poor.
Prime Minister Najib Razak's administration had previously planned to debate legislation in Parliament later this month to impose the tax by 2011 in an effort to boost revenue by about 1 billion ringgit (S$418 million) annually.
The plan stirred fierce criticism from social activists, who insisted the tax would cause inflation to rise and unnecessarily trouble poor and middle-class earners.
Second Finance Minister Ahmad Husni Hanadzlah said on Saturday the government will indefinitely delay plans to debate the legislation until it can convince people that the tax would aid the country's economic well-being. 'It will depend on our engagement with the public and acceptance of the people on its implementation,' Mr Ahmad Husni was quoted as saying by the national news agency, Bernama. 'We do not want to put a time frame on that.'
Opposition activists, who had threatened to stage a protest against the sales tax outside Parliament on Monday, urged the government to completely scrap the plan. 'Perhaps the tax is not being imposed now because (the government) does not have a solid hold in Parliament,' said Mahfuz Omar, vice president of the opposition Pan-Malaysian Islamic Party.
Analysts have said the sales tax might spur public dissatisfaction against Najib's ruling National Front coalition, which is expected to call for elections in a large state on Borneo island sometime over the next year. The broad-based consumption tax is supposed to replace a narrowly applied 10 per cent sales tax and five percent services tax. It is meant to be levied on transactions at all stages of production of goods and services. -- AP
You will never see this happening in efficient Singapore.
When we want to raise, we will raise.
Anything to help the poor.
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Why Malaysia gst only 4% while singapore is already 7%?
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wait till those M'sian ministers and their sultans/princes want higher pay lor..............those bloodsucking parasites............
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Soon they will replace their toll gates with ERP gantries.
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Originally posted by Daveteo:
Why Malaysia gst only 4% while singapore is already 7%?
look closely to the diff in income/ corp tax and GST rates in S'pore & M'sia.