Hoping for a good deal out of a taxing issue

SINCE the idea of implementing the goods and services tax (GST) in Malaysia was revived by the Government two months ago, many questions have been raised by various industry and consumer groups as to how the new regime will affect their interests.

Apart from the information in the GST Bill, few details of the new tax have been announced, but the Government has made a commitment to make the GST system a win-win solution. The tax will likely be enforced about 18 months after the second reading of the bill scheduled for March in parliament.