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KUALA LUMPUR: The Royal Malaysian Customs Department expects to collect an additional RM5bil to RM6bil in tax annually once the goods and services tax (GST) is implemented in 2015.
KUALA LUMPUR: Malaysia will see minimal inflation rate hike following subsidy rationalisation, including the increase in sugar price, Minister in the Prime Minister's Department Datuk Seri Abdul Wahid Omar said today.
KUALA LUMPUR: Malaysia’s inflation, as measured by the consumer price index (CPI), is expected to increase between 3.5% and 3.8% when the goods and services tax (GST) takes effect from April 1, 2015, but the inflationary pressure is expected to eventually moderate within a year.
GOOD or bad, the debate on the implementation of the Goods and Services Tax (GST) is still up in the air.
Concerned that the coming Goods and Services Tax will mean increasing prices for a host of widely non-luxury and essential items, consumers are asking for more of these to be exempt from tax. The Government has responded that it is open to feedback and suggestions.