Posted on November 14, 2013, Thursday
LABUAN: The implementation of goods and services tax (GST) will help reduce ‘black economy’ activities in the country, said Deputy Finance Minister Datuk Ahmad Maslan.
He said such activities stood at 20-25 per cent compared with some developed countries at 10-15 per cent.
“The GST will greatly reduce these activities, which had existed in many countries,” he told Bernama Tuesday.
Ahmad said aggressive measures to promote GST had started with the involvement of all relevant government machinery using websites, mainstream media and social media.
He said community leaders in the rural areas had also started to brief the people and pamphlets and brochures had been distributed.
Ahmad said the GST should have been implemented along with 160 other developing and developed countries.
“We are seven years late,” he said. — Bernama