Insight - Shifting the balance from direct to indirect taxes

Lee Heng Guie(pic): According to the International Monetary Fund, more than 160 countries have VAT/GST in place as of last year.

THE current worldwide trend is shifting from direct tax to indirect tax by decreasing direct tax rates and increasing value-added tax (VAT) as well as goods and services tax (GST) rates.

According to the International Monetary Fund, more than 160 countries have VAT/GST in place as of last year.