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PETALING JAYA: Companies which missed the first phase of the Custom Department’s Goods and Services Tax (GST) hand-holding programme should quickly register this month to qualify for the next phase.
PETALING JAYA: Malaysia’s inflation rate could jump to between 3.8% and 4% next year as GST takes effect, up from a projected 3.5% this year, according to RAM Ratings. This could be aggravated by another round of fuel-price increases and electricity-tariff adjustments, as well as a 25 basis points hike in the overnight policy rate to 3.5% ahead of the new tax regime in April.
KUALA LUMPUR: RAM Rating Services Bhd projects base-case inflation of 3.8% to 4.0% for 2015 compared to the 3.5% headline inflation expected this year.
KUALA LUMPUR: Malaysia’s export industry is bound to be more competitive when the Goods and Services Tax (GST) comes into effect next April, said Deputy Finance Minister Datuk Chua Tee Yong.
PUTRAJAYA: Businesses who procrastinate in registering with the Customs Department to comply with the Goods and Services Tax (GST) regulations will only lose out as they are bound to make mistakes when the new consumption tax system comes into force. Noting that businesses were the frontliners of the system, department director-general Datuk Seri Khazali Ahmad said mistakes could cost them dearly when the GST goes live on April 1, 2015.
The GST is a tax reform that is seen to be efficient and fair although the biggest obstacle is selling the idea to the people.
THE Government does not expect an immediate sharp increase in its revenue as a result of implementing the Goods and Services Tax (GST).
KUALA LUMPUR: The introduction of the Goods and Services Tax (GST) will reduce the Government’s dependence on income tax and oil revenue as well as reduce the size of the country’s shadow economy, says Finance Ministry tax division under secretary Datuk Siti Halimah Ismail.
THE Government has taken “unprecedented’ steps to ensure the smooth implementation of the Goods and Services Tax (GST) come April 2015, experts say.
PUTRAJAYA: Experts from several countries that have successfully implemented goods and services tax (GST) will be sharing their experiences on the matter with local industry players next week.