Posted on October 30, 2013, Wednesday
KUALA LUMPUR: The implementation of the Goods and Services Tax (GST) in 2015 will not impose any burden on the people or incur losses for the country, Domestic Trade, Cooperatives and Consumerism Minister Datuk Hasan Malek said yesterday.
The six per cent GST would replace the existing sales and service taxes amounting to 16 per cent, he said at a school cooperative entrepreneurship event, here.
Prime Minister Datuk Seri Najib Tun Razak, who is also the finance minister, announced that the GST would be implemented on April 1, 2015, when he tabled Budget 2014 in the Dewan Rakyat last Friday.
On the suggestion for several sectors or essential goods to be exempted from the GST, Hasan said the government was open to suggestions to improve or streamline the proposed new tax.
On another matter, he said the ministry’s officers would go around the country to explain the rationale for the government’s removal of the subsidy for sugar on Oct 25.
“Although it was an unpopular decision, it was made with the people’s health at heart and, hopefully, will be well-received,” he said. — Bernama