X Close

Community

Published: Friday March 29, 2013 MYT 12:00:00 AM
Updated: Wednesday April 24, 2013 MYT 2:13:59 PM

Timber industry likely to support Goods and Services Tax implementation

KUCHING: The Sarawak Timber Association (STA) has no doubt the Goods and Services Tax (GST) will be implemented.

“Besides forestry matters, STA is also looking at various issues such as the GST,” said chairman Pemanca Datuk Wong Kie Yik during the opening of its annual general meeting.

“STA has continued its working relationship with the Tax Review Panel and the Royal Malaysian Customs Department.

“We held the last joint meeting on July 11 last year to discuss several outstanding matters on the GST for the forest and timber industry in Sarawak,” Wong said.

Introducing the GST has long been talked about in Malaysia, one of the few newly industria-lised and developed nations to not have the consumption based tax. GST was first talked about by the Government when petrol subsidies were reduced about half a decade ago.

However, owning to its unpo-pularity, the GST has not been introduced, although most believe it is just a matter of time.

Wong said GST could have as much impact on the timber and forestry industry as the minimum wage policy.

Nonetheless, he indicated that the industry would likely be supportive of GST.

“With the assistance of the Customs, parallel sessions of GST awareness and training have taken place in Miri, Bintulu, Sibu and Kuching in October 2012.

“We need to keep members abreast with the proposed GST model for Malaysia, in particularly, its application to the forest and timber industry.”

On a related matter, Wong lamented the different definitions and standards of legal logs and timber products internationally.

“STA is monitoring the progress of and participated in the consul-tations of several international legislation meetings, such as the Austra-lian Illegal Logging Prohibition Act and the Malaysia-European Union Forest Law Enforcement, Gover-nance and Trade Voluntary Part-nership Agreement.

“STA is supportive of the objectives of these international legislation to combat illegal logging.

“However, STA also feels that the different sets of definitions and requirements of these inter-national legislations ought to standardised.”

Tags / Keywords: Community, News, Business, GST, illegal loggying, Sarawak Timber Association

advertisement

advertisement

advertisement