Lower tax rates expected after GST


TAXPAYERS and corporations will be overall better off when the goods and services tax (GST) is introduced in January 2007, Universiti Malaya associate professor and tax consultant, Dr Choong Kwai Fatt said. 

GST is a broad-based consumption tax imposed on a wide range of local and imported goods and services, and has a multi-staged consumption tax applied at each stage – from the purchase of raw materials to sale of finished goods. 

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