GST is Tax on consumers. Some goods increase in price, some goods drop in price and some goods no change in price. Fresh food and basic goods and services (mostly groceries and pasar stuff) necessities got no GST. Small business with yearly sales below RM500,000 a year no GST. GST will catch many current tax-evaders who today pay or under-pay income tax. Personal income tax or Corporate tax may fall. BR1M to increase. Details not finalised yet. Waiting for budget 2014 announcement.
Posted on: Wed, 02 Oct 2013 08:34:27 +0000
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