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The proposed introduction of GST in Malaysia reminds me of my time in Britain in the 1970s when I assisted companies to implement the value added tax (VAT) and also undertook VAT compliance services. The same scenario is now scheduled to recur, this time in Malaysia. I should add that GST and VAT refer to the same consumption tax.
TOKYO: Japan's factory output grew the most in six months in November as a recovery in export demand from Asia boosted production in the world's second-biggest economy.
PETALING JAYA: The amendment to the real property gains tax (RPGT), which will be reimposed next year at 5% but now applicable only to transactions involving properties sold within five years from their purchase, is 'a perfect Christmas gift' which will lift the local property market, analysts said.
WASHINGTON The Obama administration says it is removing the US$400 billion financial cap it will provide to Fannie Mae and Freddie Mac to keep the mortgage giants from failing.
LONDON: Britain is limping into the New Year still officially in recession as its recovery from the global credit crunch lags behind the United States, the European Union and just about every other major economy.
KUALA LUMPUR: Bank Islam Malaysia Bhd (BIMB) has announced that it will not 'cover' the proposed service tax on credit cards, saying it already has enough other incentives for its credit card customers. It is the second bank to annouce this after Malayan Banking Bhd.
DENPASAR, Bali: Tune Hotels.com will invest RM50mil to RM60mil in land and building acquisitions from now until the first quarter of next year.