Nuffnang Add

Thursday, October 31, 2013

GST necessary to increase development funds, says Nansian

Published: Sunday October 27, 2013 MYT 12:00:00 AM 
Updated: Sunday October 27, 2013 MYT 2:25:00 PM

BAU: The Government has assured that the Goods and Services Tax (GST), which is to be implemented in 2015, will not burden the poor.

Community Services Assistant Minister Datuk Peter Nansian said some feared the GST because they did not understand what it was.

He explained that the GST in fact was necessary to increase the funds for development by widening the tax base.

“This is done in many countries.

“The lower-income group however need not fear because the essential goods are tax exempted.

“Only when you buy luxurious goods then the GST comes into play. In other words, the rich contribute,” he told reporters here yesterday.

He felt that as long as people lived within their means, they would have nothing to fear.

Nansian said this when asked to comment n the Budget 2014 announcement by Prime Minister Datuk Seri Najib Tun Razak on Friday.

He said the Budget was pragmatic and balanced whereby the main aim was to reduce the deficit in the country.

“We need our ratings to come up so we can convince investors that we present a stable investment environment.”

No comments:

Post a Comment