THE long-awaited goods and services tax (GST) has at last come knocking at our doors and many predicted that the rate will be set between 6% and 10%, the former being the current service tax rate while the latter is the sales tax rate.
The expectation was that the GST will be 4% on the assumption that the rate will be revenue neutral. That is, the revenue from the GST will just offset the revenue lost from the repeal of the sales and service tax (SST).
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