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Monday, November 18, 2013

Be on lookout for GST opportunists, says Soi Lek

Published: Monday November 18, 2013 MYT 12:00:00 AM 
Updated: Monday November 18, 2013 MYT 7:08:04 AM

IPOH: The authorities should be on the alert for opportunists who may raise the prices of goods once the Goods and Services Tax (GST) is implemented, said MCA president Datuk Seri Dr Chua Soi Lek.

“We need to beware of opportunists, especially among the small-medium enterprises, which might hike up prices when people are still confused about the system,” he said.

In his winding-up speech at the state MCA convention here yesterday, Dr Chua also said that the Government should maintain the 6% GST tax rate for the first five years to make sure that the system is fair to all.

Malaysia has a workforce of 13 million, but only 1.5 million of them were taxed, he said.

He said the Government must be ready with answers to solve various technical problems that might occur during the early stage of GST implementation.

Yesterday, the central delegates from Perak agreed that the GST was more transparent than the present tax system. They wanted the Government to ensure that the middle and lower income groups would not be affected by GST.

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