GST presents a rich scope for planning

ON Dec 16, 1773, the Boston Tea Party midnight raid took place in protest against the British Tea Act. On that same day in 1941, Japanese forces occupied Miri. Most recently, on Dec 16, 2009, the Goods and Services Tax (GST) Bill 2009 was tabled for its first reading in Malaysia’s Parliament.

The proposed introduction of GST in Malaysia reminds me of my time in Britain in the 1970s when I assisted companies to implement the value added tax (VAT) and also undertook VAT compliance services. The same scenario is now scheduled to recur, this time in Malaysia. I should add that GST and VAT refer to the same consumption tax.