Chinese Chambers hopes GST to be capped at 4%

Published: Tuesday October 8, 2013 MYT 5:35:00 PM 

Updated: Tuesday October 8, 2013 MYT 5:43:35 PM

Minister of Prime Minister Department, Tan Seri Joseph Kurup (left),
and president of the Kuala Lumpur and Selangor Chambers of Commerce and Industry,
Datuk Ter Leong Yap (right), holding the "My Hero" awards during launching of the awards
at Wisma Chinese Chamber on Oct 8, 2013.

KUALA LUMPUR: The Chinese Chambers of Commerce and Industry of Kuala Lumpur and Selangor hopes the government will keep the Goods and Services Tax (GST) at below 4% in the first three to five years of implementation.

President Datuk Ter Leong Yap said that a lower tax rate for a certain period would help the people adapt to the new tax system, which many expect to be implemented next year.

"We also hope that with the GST, personal and corporate taxes will be reduced gradually," he told reporters after the launch of the My Hero Award on Tuesday by Minister in the Prime Minister's Department Tan Sri Joseph Kurup.

Meanwhile, on the My Hero award, he said it would recognise and acknowledge unsung heroes and heroines for their great deeds to society.

Applicants are required to write a true touching story on incidents that have occurred from Independence Day up to now, with six winners to be picked to receive RM3,000 in cash, plus a trophy. The closing day for entries is Oct 31 – Bernama.