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Thursday, November 28, 2013

Wrong to equate not having GST with bankruptcy

Published: Thursday November 28, 2013 MYT 12:00:00 AM 
Updated: Thursday November 28, 2013 MYT 7:01:34 AM

IT has been brought to our attention that our article titled “Najib: It’s either GST or facing bankruptcy” on Monday was inaccurate.

Prime Minister Datuk Seri Najib Tun Razak did not equate not having the goods and services tax (GST) with bankrupt­cy.

What he said was that the Govern-ment was introducing the GST because the current taxation system was not efficient as only 1.34 million workers out of 14 million paid income tax.

He said the additional revenue would allow the Government to finance future developments and the GST was a more equitable taxation system.

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