KUALA LUMPUR (Sept 12, 2012): The
Goods and Services Tax (GST) will not be implemented this year as the
government is focusing on creating awareness on the new taxation mechanism
among the people, Deputy Finance Minister Datuk Donald Lim Siang Chai said
today.
He said awareness campaigns
organised by the Finance Ministry are progressing well and are expected to
conclude soon. "We want all Malaysians to understand thoroughly what the
GST is all about before tabling the GST Bill for second reading in Parliament.
"It's not likely to be
tabled in the next Parliament session as the awareness campaigns will not have
concluded by then," he told reporters after opening the CFO Summit 2012
hosted by the Asian Strategy and Leadership Institute.
On another matter, Lim said
ministries and government agencies have been instructed not to delay payments
to building contractors.
"It should be done on time
because cash is like "blood" for them (contractors), especially the
smaller players.
"Not only government
agencies, the private sector must also emulate the steps taken by agencies and
companies in Japan and Germany in paying their contractors (promptly)," he
added. -- Bernama
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