GST unlikely to be in 2013 Budget

July 31, 2012

Byline: Ooi Tee Ching

KUALA LUMPUR: THE 2013 Budget is not likely to introduce the goods and services tax (GST), said Deputy Finance Minister Datuk Donald Lim Siang Chai.

"We're currently raising public awareness on the importance of implementing GST. It would only be implemented when the public has full understanding of it," said Lim.

Prime Minister and Finance Minister Datuk Seri Najib Razak is scheduled to table the 2013 Budget in Parliament on September 28.

The GST Bill was tabled initially for reading in Parliament in December 2009 but its second reading was postponed.

Critics of the GST proposal say the government should first address revenue leakages and wastage before introducing new taxes to boost its income.

Lim then went on to say tax incentive proposals submitted by trade bodies, lobby groups and the public are being scrutinised by his ministry.

"Among priority areas of discussion are small and medium enterprises, green technology, affordable housing and the urban transformation plan," he told reporters after launching the Adamas Weddings Franchise Concept here yesterday.

Also present was Adamas Weddings founder Dr Khoo Kien Ling, who set up Malaysia's first and only wedding planning school offering the Weddings Beautiful certification programme. Students pay a fee of RM11,500 to undergo a four-month programme to become certified wedding planners.

Since September 2011, the Ministry of Domestic Trade, Co-operative and Consumerism has approved of Adamas issuing franchise licences for wedding planning.

She explained that the Adamas franchise concept outlet in Kota Damansara facilitates aspiring wedding planners to set up their own business with a start-up package of only RM250,000.

"We make it easy for investors to take up the wedding planning business.

Loan packages from the government are available for those who do not have enough capital," she said.