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Jaytea
22-02-2006, 05:32 PM
http://www.bernama.com/

GST Implementation Postponed, New Date To Be Announced Later


KUALA LUMPUR, Feb 22 (Bernama) -- The government has decided to postpone the implementation of the Goods and Services Tax (GST) from Jan 1, 2007 to a new date that will be announced later.

This is in order to provide sufficient time to resolve issues raised and for businesses to be GST-ready, the Ministry of Finance (MOF) said in a statement announcing the decision here Wednesday.

To spearhead the implementation of the new tax system, MOF said the government had formed a Tax Review Panel comprising representatives from the public and private sector to formulate the concept, legislation, process and procedures for the GST.

Over the last one year, the Tax Review Panel had presented a proposed GST model and has actively engaged in extensive consultations with the public and business community across the country.

The feedback has strongly suggested a need for more time particularly to further refine the proposed GST model and to ensure the readiness of businesses to implement the GST.

The private sector had highlighted the need for lead time, especially for potential changes in business processes, development of software and training of personnel.

The government had announced in last year's Budget that the existing sales tax and service tax would be replaced on Jan 1, 2007 with the GST, a broad based consumption tax based on the value-added concept.

The introduction of the GST is intended to improve tax compliance, through a more comprehensive, transparent and simple tax system.

-- BERNAMA

Phres
24-11-2009, 12:11 PM
http://www.nst.com.my/Current_News/NST/articles/20091124093242/Article/index_html

PM says GST proposal will be tabled at Parliament current Session



how will GST affect our lives?

AllUrban
25-11-2009, 01:58 PM
http://www.nst.com.my/Current_News/NST/articles/20091124093242/Article/index_html

PM says GST proposal will be tabled at Parliament current Session

how will GST affect our lives?
1. politicians and NGOs will complain about the tabling in the last session of the year just before the Awwal Muharram Holiday (Islamic new year) and Christmas

2. politicians and NGOs will complain that GST is a *regressive* tax, penalizing all people unfairly. They will hope that you will misunderstand the word "regressive" and think that it means "backwards & unfair" (when it actually means something else)

3. the GST will be introduced at 5-7% and it will replace the current government taxes on f & b items & hotel room stays (which you do see) as well as "hidden" taxes on manufactured goods and 'service' charges.

4. It is likely that "essential" goods will not have GST ... things like bread, milk & formula, vegetables, unprocessed foods, tolls & transport fares.

5. if the tax is included in the price, then the price of items will appear to go up by 5-7%...which will cause the appearance of higher inflation...but it will be more convenient for customers.

However, if the collective decision is made to charge the tax separately (which is better for the accounting & the CPI but not good for convenience), then prices will probably go lower over time as there is more competition and reduced consumer and producer prices.

people will complain and life will go on.

Cheers, m

ps. the only thing I dont like about the GST is that everyone except the consumers get to pass the GST on. But it is a small price to pay for lower overall income taxes.

bslee
25-11-2009, 02:39 PM
I think Malaysia is NOT ready for this as it'll affect most rakyat in general, especially those no income tax paying bracket, the low to mid income group. It'll be another of life's burden living in Malaysia. Already people with RM3000/month income living in urban is considered poor. Tax the poor?.. Malaysia NEED A CHANGE OF GARMEN!.. THAT's whats needed NOW!

AllUrban
25-11-2009, 06:54 PM
I think Malaysia is NOT ready for this as it'll affect most rakyat in general, especially those no income tax paying bracket, the low to mid income group. It'll be another of life's burden living in Malaysia. Already people with RM3000/month income living in urban is considered poor. Tax the poor?.. Malaysia NEED A CHANGE OF GARMEN!.. THAT's whats needed NOW!I think that you're right, generally. The amount is at the poverty line for KL because of the high cost of living and that is because of tolls & transport costs, high prices for items, profiteering etc.

Malaysians on average pay 1/4 of the CPI towards transport, which is way too high....if the price of cars and petrol and tolls were to be reduced, you can drop the RM3000 down to RM2000 easily.

but I still support the GST....much better than income tax which is easily abused. Out of 10 million workers in Malaysia, only 2 million are registered taxpayers and only 1 million actually pay their taxes.

Cheers, m

bslee
25-11-2009, 07:23 PM
Garmen spending wastages for decades can easily be seen as scandalous, unaccountable and very high due to numerous reasons in the system, by the system and working around the system. With all the acts, regulations, general orders, standing orders, rules, whatever, blah blah, the government budget should be in strict check and accountable FROM THE BEGINNING, yet macam macam news or hearsay we all read and hear goes on and on and there's no end in sight. RM40k laptop, RM200 screwdrivers, Only God knows only how deep and sickening the problem is. REMEMBER, THIS IS HAPPENING IN A 21st CENTURY MALAYSIA!!! You know!..This is not an era of absolute monarchy where King or Sultan dictates life and death over the rakyat.

So what does the garmen do?... TAX THE RAKYAT... THAT'S ALL THEY KNOW and CAN GET IT BY HOOK OR CROOK!. Its going to be DECIDED BY the very people YOU PUT IN OFFICE!... Change the garmen!...thats the only route!... but then again, the new garmen.. NO guarantees of a better Malaysia either.

AllUrban
26-11-2009, 10:01 AM
So what does the garmen do?... TAX THE RAKYAT... THAT'S ALL THEY KNOW and CAN GET IT BY HOOK OR CROOK!. Its going to be DECIDED BY the very people YOU PUT IN OFFICE!... Change the garmen!...thats the only route!... but then again, the new garmen.. NO guarantees of a better Malaysia either.Back in 1993 in Canada, the leader of the Liberal party, Jean Chretien made it a central campaign promise that he would repeal the GST which was implemented at 7%

During that election, the party that introduced the GDP dropped from a majority government to only 2 seats!

But in 10 years of power, Jean Chretien never repealed the GST...even when the government recorded record budget surpluses for 8 years in a row ... in one year they anticipated a surplus of 1.9 billion and ended up with a surplus of 9.1 billion.

Believe me, it happens everywhere....but a GST is better than a system where the rich financial class pay little or no taxes.

Cheers, m

trex92
26-11-2009, 04:29 PM
read in news updated in "The Star"... Govt plans to impose GST at 4%... what is the point of making announcements like this? Testing water to see the rakyat's feedback and then change it to suit?

Govt : GST 4%
Rakyat : NOOOOOOOO!! BOOOOOOO!
Govt : okie okie, we hear you... GST 3.5%
Rakyat : go to ****!!!
Govt : ok la, special rate of 3% just for you!
Rakyat : *(@&(!*^&$

Sounds so much like Petaling street...

zinglicious
26-11-2009, 04:37 PM
Hip Hop music from Americans, Flip Flop polisi for Malaysia. :p
3% also high? how about 2.99%? tak mahu? Aiyah, lelong sekarang at 1.99!
Two words from Michael Jackson - Beat It. :D

bslee
26-11-2009, 04:49 PM
Two words from Michael Jackson - Beat It. :D

So I assume your lestolan no 4 par sin in future?.. :D You beat it by absorbing it? :D

zinglicious
26-11-2009, 04:57 PM
Beat it with no receipt issue like the pasar malam, perhaps? :D
Make it a better place for you and for me! :)

Jey
26-11-2009, 05:09 PM
The gahmen has no more money to spend. All gone to the likes of PKFZ, double trackiing, and what have you. All of these are scandalous spendings from the coffers of taxpayers. So what to do next? Go and milk the people again. Easy route mah. This time include the non tax payer as well.

Previously those earning below 3k are not taxable as these are considered at poverty borderline. So how do we get around this problem? Introduce GST and these folks are now included. Whack them kaw-kaw. Poor gets poorer. Rich gets richer. How you ask? The buck stops at the consumer. Consumer is charged the GST.

:D

zinglicious
26-11-2009, 05:17 PM
But they have money to pay for RM12k computers for the MPs' where it cost about 3k in the street. :confused:

e[X]treme[Z]
26-11-2009, 05:31 PM
But they have money to pay for RM12k computers for the MPs' where it cost about 3k in the street. :confused:
Well, they need more to pay for the latest 42" LED LCD HDTV for RM50k.
:rolleyes:

Jey
26-11-2009, 07:08 PM
Yes, now you know why the GST is needed.

AllUrban
26-11-2009, 07:31 PM
read in news updated in "The Star"... Govt plans to impose GST at 4%... what is the point of making announcements like this? Testing water to see the rakyat's feedback and then change it to suit?

Govt : GST 4%
Rakyat : NOOOOOOOO!! BOOOOOOO!
Govt : okie okie, we hear you... GST 3.5%
Rakyat : go to ****!!!
Govt : ok la, special rate of 3% just for you!
Rakyat : *(@&(!*^&$

Sounds so much like Petaling street...initially the GST in Canada was supposed to be 9%...but public grumbling followed and they reduced it to 7% (maybe that is what they planned all along, who knows).

The GST is now 5% in Canada.

I personally think 5% is a good number...easy to do the math. Divide the total by 10, then divide that by 2 and you have 5%.

Cheers, m

ps. you'd be surprised how much of a difference convenience makes. Turkey dropped 6 zeros of their old Turkish Lira (OTL 1,000,000 = NTL 1) because people were having trouble doing the math. Financial calculators have a "0000" button where most of us are used to a "00" button.

Now 1 newspaper costs 4NTL instead of 4,000,000 OTL

Cheers, m

trex92
26-11-2009, 08:17 PM
initially the GST in Canada was supposed to be 9%...but public grumbling followed and they reduced it to 7% (maybe that is what they planned all along, who knows).

The GST is now 5% in Canada.

I personally think 5% is a good number...easy to do the math. Divide the total by 10, then divide that by 2 and you have 5%.

Cheers, m

ps. you'd be surprised how much of a difference convenience makes. Turkey dropped 6 zeros of their old Turkish Lira (OTL 1,000,000 = NTL 1) because people were having trouble doing the math. Financial calculators have a "0000" button where most of us are used to a "00" button.

Now 1 newspaper costs 4NTL instead of 4,000,000 OTL

Cheers, m

well, 1% is way easier to count if you ask me :D

StonTemplePilot
26-11-2009, 08:20 PM
initially the GST in Canada was supposed to be 9%...but public grumbling followed and they reduced it to 7% (maybe that is what they planned all along, who knows).

The GST is now 5% in Canada.

I personally think 5% is a good number...easy to do the math. Divide the total by 10, then divide that by 2 and you have 5%.

Cheers, m

ps. you'd be surprised how much of a difference convenience makes. Turkey dropped 6 zeros of their old Turkish Lira (OTL 1,000,000 = NTL 1) because people were having trouble doing the math. Financial calculators have a "0000" button where most of us are used to a "00" button.

Now 1 newspaper costs 4NTL instead of 4,000,000 OTL

Cheers, m


0 is the best number...round and good feng shui...

The dongs dongs at Putrajaya should learn to save money, less greedy and corrupt, and stop leakages first before trying to dig more revenue sources for them to korek korek korek from the people!!! :mad:

Bunch of dongs dongs!!!! :mad:

zinglicious
27-11-2009, 01:20 AM
If the Gomen is Dong Dong, the we as the citizens are the Ding Ding. With the ding-ding, along comes the spin of dong-dong. We vote them in, so they play the flip flop music with the Ding Dong beat.
:rolleyes: Amazing , but true. :rolleyes:

firefox
27-11-2009, 07:29 AM
If only semi velu was around then no need of this GST..they would have increased the tolls. Enough for the government to squander somemore.

zinglicious
27-11-2009, 07:34 AM
From the left pocket to the rght pocket. Same value! :rolleyes:

Jey
27-11-2009, 05:32 PM
If the pirates in public offices are prudent enough and has managed the economy well without squandering billions no one will be provoked with this idea. This is just adding fuel to the already raging fire. No thoughts to the people's sufferings. And this is probably not the worse yet. :eek: