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What is GST Malaysia?

What is GST Malaysia? One of the most trending keyword after BN won the general election 2013. How does its implementation affects our living?

Definition GST :

GST is imposed on goods and services at every production and distribution stage in the supply chain including importation of goods and services.

How Malaysia government implements GST :

GST Malaysia will replaces the sales sales tax and service tax (SST) because GST said to be more comprehensive. GST can overcome the various weaknesses inherent in the present consumption tax system.

What is GST Malaysia?

GST Malaysia

Read more about GST here.

The PR claims on GST Malaysia :

Lim Guan Eng said that it will impoverish RM1000 a year for each Malaysian. He majority people do not yet have a reasonable income to live a sustainable life of dignity. That is why PR opposes the 7 per cent of GST because it is a burden to the poor.

“That is why Prime Minister Datuk Seri Najib Razak is so confident of being able to pay out RM1,200 a year to each family for BR1M because he gets back RM5,000 a year from them through GST,” Lim said

Some of the people who agreed the implementation of GST :

GST is a fair tax, yes, the poor will pay some since most of the poor doesn’t pay any income tax, but the rich will have to pay even more coz they spend more. With the current tax loophole and evading via sdn bhd, GST is a must.

Lets not forget the black money involving pirated CDs, drugs, prostitution, crimes, corruption, stolen money and etc. those money are not taxed. Crime lords are forced to pay fair share when they spend.

Our opinion :

7% is ridiculously high! How about yours?

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Category: Economy, Politics