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Friday, March 21, 2014

Ahli Perniagaan Cina Mahu Tempoh Peralihan Untuk Suaikan Diri Dengan GST - Kaji Selidik


KUALA LUMPUR, 21 Mac (Bernama)-- Ahli perniagaan Cina di negara ini berharap kerajaan akan memberikan tempoh peralihan kepada mereka sehingga dua tahun untuk menyesuaikan diri dengan Cukai Barang dan Perkhidmatan (GST) yang akan dilaksanakan 1 April tahun depan, demikian menurut satu dapatan kaji selidik.

Empat puluh sembilan peratus daripada perniagaan yang dikaji selidik berkata penampan satu tahun perlu ditawarkan untuk menyesuaikan diri dengan GST dengan tanpa penalti kerana gagal mematuhinya semasa tempoh tersebut, demikian menurut kaji selidik yang dijalankan oleh Gabungan Dewan Perniagaan dan Industri Cina Malaysia (ACCCIM).

Keputusan kaji selidik itu dikeluarkan di sini, Jumaat.

Lebih daripada 20 peratus berkata mereka berharap penampan dua tahun, manakala 19.7 peratus meminta 1.5 tahun.

"Syarikat-syarikat berharap kerajaan akan memberikan mereka tempoh yang mencukupi untuk mempelajarinya ketika mereka menyiapkan perniagaan mereka untuk memenuhi keperluan GST itu," kata Pengerusi Jawatankuasa Perniagaan ACCCIM, Dr Leong Kai Hin, pada taklimat media semasa mengumumkan keputusan "Laporan Kaji Selidik mengenai Situasi Ekonomi Malaysia bagi Separuh Kedua 2013".

Menurut Leong, lebih daripada separuh responden berkata mereka memahami fungsi-fungsi GST, manakala 84 peratus bersedia untuk menghantar kakitangan mereka menghadiri kursus untuk membiasakan diri dengan sistem percukaian baharu itu.

Bagaimanapun, 85 peratus daripada mereka yang dikaji selidik berkata GST dijangka menambah kos tambahan kepada operasi perniagaan mereka dan 60 peratus menyatakan mereka boleh menyalurkan kos tambahan kepada pengguna, katanya.

ACCCIM menjalankan kaji selidik itu terhadap 345 ahli perniagaan Cina di semua sektor, seperti perdagangan borong dan runcit, pembuatan, perkhidmatan perniagaan, pembinaan serta hartanah, dari pertengahan Januari hingga pertengahan Februari.

-- BERNAMA

Chinese businesses want transitional period to adjust to GST: survey


News 2014-03-21 15:14

KUALA LUMPUR, March 21 (Bernama) -- Chinese businesses in the country are hoping the government will allow them a transitional period of up to two years to adjust to the Goods and Services Tax (GST) to be implemented on April 1 next year, says a survey.

Forty-nine per cent of the businesses polled said a one-year buffer should be offered to get used to the GST with no penalty for failing to comply during the period, said the survey by the Associated Chinese Chambers of Commerce and Industry of Malaysia (ACCCIM).

The result of the survey was released here today.

More than 20 per cent said they hoped for a two-year buffer, while 19.7 per cent asked for 1.5 years.

"Companies hope the government will grant them an adequate period of learning as they prepare their businesses to meet the GST requirement," Chairman of the ACCCIM Commerce Committee, Dr Leong Kai Hin, told a media briefing when releasing the "Survey Report on Economic Situation of Malaysia For The Second Half of 2013."

According to Leong, more than half the respondents said they understood the workings of the GST, while 84 per cent were ready to send staff to attend courses to familiarise with the new taxation system.

However, 85 per cent of those polled said the GST is expected to add extra costs to their business operations and 60 per cent indicated they are able to pass on the extra costs to consumers, he said.

ACCCIM polled 345 Chinese businesses across all sectors, such as wholesale and retail trade, manufacturing, business services, construction as well as real estate, from mid-January to mid-February for the survey.

'Rakyat jangan terpedaya'


Oleh SHEILA RANI CHANDRASEKARAN
pengarang@utusan.com.my
ISMAIL Sabri Yaakob (dua dari kiri) bersama Hasan Malek (tiga dari kanan)
memotong riben sebagai gimik Perasmian KR1M di Kompleks Kajang Sentral,
Hulu Langat, Selangor, semalam. Turut kelihatan, Alias Ahmad (dua dari kanan) dan
Mohd. Hashim Abdullah (kiri). - BERNAMA

HULU LANGAT 20 Mac - Rakyat diingatkan supaya tidak terpedaya dengan helah pembangkang yang sengaja mengaitkan pelaksanaan cukai barangan dan perkhidmatan (GST) dengan kos sara hidup.

Menteri Pertanian dan Industri Asas Tani, Datuk Seri Ismail Sabri Yaakob berkata, pelaksanaan GST berkuat kuasa tahun hadapan dijamin tidak membebankan rakyat seperti didakwa oleh pembangkang berikutan barangan makanan asas tidak terlibat dengan cukai itu.

Katanya, tuduhan yang dibuat pembangkang itu lebih kepada untuk mengelirukan rakyat supaya menyalahkan kerajaan sekali gus meraih sokongan buat mereka.

"Sebelum ini, kerajaan sudah mengumumkan bahawa GST tidak membabitkan barangan makanan asas dan antara lain perkhidmatan pengangkutan, pendidikan dan kesihatan serta jual beli dan sewaan rumah.

"Jadi mengapa rakyat perlu risau dengan khabar angin. Ini merupakan helah pembangkang untuk mengelirukan rakyat dengan memberi kenyataan tidak benar," katanya.

Beliau berkata demikian dalam sidang akhbar selepas merasmikan Kedai Rakyat 1Malaysia (KR1M) di Kajang, di sini hari ini.

Yang hadir sama Menteri Perdagangan Dalam Negeri, Koperasi dan Kepenggunaan, Datuk Seri Hasan Malek; Ketua Setiausaha Kementerian Perdagangan Dalam Negeri, Koperasi dan Kepenggunaan (KPDNKK), Datuk Seri Alias Ahmad dan Ketua Setiausaha Kementerian Pertanian dan Industri Asas Tani, Datuk Seri Mohd Hashim Abdullah.

Sempena majlis itu, KPDNKK dan Kementerian Pertanian dan Industri Asas Tani menandatangani memorandum persefahaman (MoU) mengenai penjualan barangan basah di KR1M.

Dalam pada itu, Ismail Sabri berkata, pihaknya yakin hasil produk tempatan boleh mencapai tahap sara diri (SSL) menjelang 2020 dalam usaha mengurangkan kebergantungan negara terhadap barangan import.

Jelasnya, perkara itu amat penting bagi merangsang pertumbuhan industri pertanian negara selain dapat meningkatkan hasil pemasaran petani tempatan.

Bagaimanapun, katanya, tidak semua tanaman ataupun sayuran mampu mencapai tahap berkenaan berikutan terdapat faktor lain yang perlu diteliti antaranya cuaca.

"Kami melihat sektor makanan sangat bergantung kepada import sedangkan negara ini mampu menghasilkan beberapa produk yang sama.

"Dengan persekitaran ekonomi global amat mencabar ketika ini, produktiviti dan daya saing negara juga perlu ditingkatkan," katanya.

© Utusan Melayu (M) Bhd

Pastikan kebajikan tidak terabai


ARKIB : 19/03/2014
Oleh ZULHISHAM ISAHAK
utusanjohor@utusan.com.my
HAMIM Samuri (kanan) bersalaman dengan bekas anggota tentera pada majlis perasmian
Seminar Kesedaran Cukai Barangan dan Perkhidmatan (GST) di Muar, Johor, baru-baru ini.
- UTUSAN/ISHAK RAHMAD
MUAR 18 Mac - Semua ketua cawangan dan ahli jawatankuasa Persatuan Bekas Tentera Malaysia (PBTM) di negeri ini perlu mengenal pasti veteran tentera yang memerlukan terutama orang kurang upaya (OKU) supaya bantuan RM500 dapat disalur dalam tahun ini.

Naib Presiden 1 PBTM, Mejar (B) Sazali Ismail berkata, bantuan akan diberi kepada ahli dan bukan ahli bagi memastikan kebajikan mereka tidak terabai.

"Mereka terutama veteran OKU terdiri daripada bekas tentera yang ditimpa kecelakaan semasa bertugas atau selepas bersara. Jika bekas tentera itu dipotong kakinya akibat kencing manis, mereka turut mendapat bantuan.

"Dana ini daripada Tabung Hari Pahlawan dengan 70 peratus diperuntukkan untuk menjaga kebajikan termasuk veteran tentera OKU," katanya yang berucap dalam Seminar Kesedaran Cukai Barangan dan Perkhidmatan (GST) di sini kelmarin.

Seminar itu dirasmikan oleh Timbalan Menteri Perdagangan Antarabangsa dan Industri, Datuk Ir. Hamim Samuri yang turut dihadiri Ahli Dewan Undangan Negeri (ADUN) Serom, Abd. Razak Minhat; Timbalan Pengarah Kastam negeri, Abdullah Sidik dan Ketua PBTM Cawangan Muar, Shamsudin Rais.

Sazali memberitahu, setakat ini, bantuan tersebut sudah diberikan di Kajang, Selangor dan diteruskan di Negeri Sembilan pada 29 Mac ini sebelum diteruskan ke negeri lain.

Sementara itu, Hamim berkata, GST bukan satu sistem baharu di rantau ini kerana hampir kesemua negara kecuali Malaysia, Brunei dan Myanmar yang masih belum menggunakannya.

Sedangkan kata beliau, GST merupakan satu transformasi ke arah kebaikan kepada kerajaan dan rakyat kerana cukai dapat dikutip dengan lebih berkesan tanpa ketirisan.

"GST menggantikan sistem pungutan cukai sedia ada. Pungutan cukai bukan perkara baharu kerana sudah diamalkan sejak pemerintahan kerajaan Melayu Melaka lagi sebelum dilakukan perubahan demi perubahan," katanya.

© Utusan Melayu (M) Bhd

KBS adakan Persidangan Meja Bulat GST


ARKIB : 17/03/2014

JOHOR BAHRU 16 Mac - Kementerian Belia dan Sukan (KBS) akan mengadakan Persidangan Meja Bulat bagi menjelaskan tentang cukai barangan dan perkhidmatan (GST) ke seluruh negara bermula 1 April 2015.

Timbalan Ketua Setiausaha (Antarabangsa dan Pengurusan) Kementerian Belia dan Sukan, Datuk Azhar Mohamed Isa berkata, persidangan itu perlu dilakukan kerana masih terdapat ramai golongan belia yang kurang jelas tentang GST.

"Rumusan Persidangan Meja Bulat GST di peringkat Pusat pada 21 Disember tahun lalu mendapati kerajaan perlu memberi penerangan secara menyeluruh terhadap pelaksanaan GST di peringkat akar umbi dan memberi jaminan pelaksanaannya tidak akan membebankan rakyat.

"Persidangan meja bulat ini akan diteruskan ke Zon Pantai Timur dan Sabah serta Sarawak bagi memastikan kumpulan sasar iaitu golongan belia jelas tentang GST," katanya selepas Persidangan Meja Bulat GST Zon Selatan di sini hari ini.

Yang turut hadir, Ketua Pegawai Eksekutif Pusat Penyelidikan Belia Nasional (IYRES), Dr. Wasitah Mohd. Yusof.

Persidangan Meja Bulat GST Ke-2 itu dihadiri oleh 115 peserta yang mewakili pelbagai kaum, persatuan pemimpin, pertubuhan bukan kerajaan (NGO), persatuan peniaga, kakitangan akademik dan usahawan belia.

Wasitah berkata, persidangan berkenaan akan diteruskan sebagai platform kepada golongan belia untuk menyuarakan pandangan dan maklum balas mereka terhadap pelaksanaan GST.

"Antara perkara golongan belia kurang jelas adalah berkenaan bagaimana pelaksanaan GST tidak akan membebankan kehidupan mereka dan ke mana hasil cukai disalurkan serta bagaimana dibelanjakan," katanya.

Pihaknya berharap segala gerak kerja yang turut dijalankan bersama Kastam Diraja Malaysia dan Kementerian Perdagangan Dalam Negeri, Koperasi dan Kepenggunaan itu mampu menyebar luas tentang kebaikan pelaksanaan GST.

© Utusan Melayu (M) Bhd

Kaji BR1M secara bulanan, suku tahun


ARKIB : 17/03/2014

IPOH 16 Mac - Kerajaan sedang menimbang untuk melaksanakan pemberian Bantuan Rakyat 1Malaysia (BR1M) secara bulanan atau mengikut suku tahunan supaya dapat dimanfaat serta dibelanjakan sepanjang tahun.

Menteri Kewangan Kedua, Datuk Seri Ahmad Husni Hanadzlah berkata, sistem baharu yang berkemungkinan besar akan dilaksanakan itu bagaimanapun belum diputuskan oleh Kabinet biarpun perbincangan mengenainya telah diadakan sebelum ini.

"Kita baru tiga tahun melaksanakan BR1M. Kita telah mengadakan makmal dan akan menambah baiknya. Amaun BR1M akan meningkat hasil simpanan daripada rasionalisasi subsidi serta pelaksanaan Cukai Barangan dan Perkhidmatan (GST) nanti.

"Sama ada pemberian BR1M dibuat secara tahunan, mengikut suku tahunan atau bulanan, itu yang sedang kita kaji," katanya dalam sidang akhbar selepas menghadiri temu bual dalam program 'Sana Sini Situ Bersama Menteri Kewangan Kedua' di Perak FM di sini hari ini.

Dalam pada itu, Ahmad Husni berkata, kedudukan fiskal negara dapat terus diperkukuh apabila kerajaan menjalankan rasionalisasi subsidi bersasar, membabitkan sejumlah RM44 bilion yang diberikan sebelum ini.

Mengambil contoh rasionalisasi subsidi ke atas minyak RON 95 berjumlah RM14 bilion misalnya, beliau berkata, kerajaan masih mempunyai baki sebanyak RM4 bilion untuk dibelanjakan bagi tujuan projek pembangunan setelah sebahagian besarnya disalurkan kepada BR1M.

"Dari segi GST pula, perkara pertama yang telah kita lakukan ialah membuat kajian supaya pelaksanaannya tidak menjejaskan kebajikan rakyat terutamanya dari segi peningkatan kos sara hidup, malahan 160 buah negara di dunia telah mempraktikkannya," katanya.

© Utusan Melayu (M) Bhd

Cuepacs dan Fomca sambut baik kenaikan BR1M RM300 tahun depan

MARCH 20, 2014

Gabungan Persatuan Pengguna Malaysia (Fomca), menyokong penuh usaha kerajaan dalam membantu rakyat menangani kos sara hidup dan cadangan meningkatkan Bantuan Rakyat 1Malaysia (BR1M) tahun depan sebanyak RM300.

Presiden Fomca Datuk N. Marimuthu (gambar) berkata inisiatif itu sememangnya jelas memperlihatkan usaha murni kerajaan untuk membantu golongan yang tidak berkemampuan.

"Kami alu-alukan apa jua kebaikan yang kerajaan buat demi kesejahteraan rakyat dan saya merasakan kenaikan bantuan BR1M itu adalah penting.

"Pemberian BR1M oleh kerajaan bukan sahaja mem­beri faedah kepada rakyat berpendapatan rendah malah peniaga juga akan menikmati keuntungan," katanya kepada Bernama ketika dihubungi hari ini.

Justeru, katanya, konsep BR1M sememangnya bertujuan untuk membantu rakyat dan membawa kebaikan walaupun mungkin sebilangan berpendapat bantuan yang diberikan tidak seberapa.

Sementara itu, Presiden Kongres Kesatuan Pekerja-Pekerja Dalam Perkhidmatan Awam (Cuepacs), Azih Muda menyambut baik kenaikan BR1M tahun depan dalam membantu golongan memerlukan mengurangkan beban kos sara hidup khususnya penjawat awam.

"Kami berasa bangga kalau kerajaan memutuskan tahun depan BR1M ditambah sebanyak RM300 kerana ini adalah sumbangan bersasar yang kerajaan sampaikan kepada kumpulan berpendapatan rendah termasuk juga separuhnya adalah penjawat awam," katanya.

Bagaimanapun Azih tetap berpendapat kerajaan harus meneliti kembali kadar gaji minimum penjawat awam untuk dinaikkan kepada RM1,200 bagi mengimbangi kos sara hidup yang semakin meningkat.

Timbalan Menteri Kewangan Datuk Ahmad Maslan semalam menjelaskan bahawa setiap penerima BR1M bakal mendapat tambahan RM300 seorang sebagai menampung kenaikan Indeks Harga Pengguna (IHP) sebanyak 1.8%, berikutan pelaksanaan Cukai Barang dan Perkhidmatan (GST) mulai 1 April 2015.

BR1M mula diperkenal pada 2012, yang memberi manfaat kepada golongan berpendapatan rendah, dengan bantuan tunai sebanyak RM500 kepada ketua isi rumah berpendapatan RM3,000 dan ke bawah.

Pada tahun ini, BR1M 3.0 telah dilaksanakan dan diperluaskan kepada isi rumah yang berpendapatan bulanan antara RM3,000 hingga RM4,000 dengan nilai bantuan sebanyak RM450 dan isi rumah berpendapatan bulanan RM3,000 ke bawah menerima bantuan sebanyak RM650, sementara individu bujang yang berpendapatan tidak lebih RM2,000 sebulan menerima bantuan RM300.

Program BR1M 3.0 yang melibatkan peruntukan sebanyak RM4.2 bilion daripada kerajaan, memanfaatkan hampir 4.63 juta isi rumah dan 2.4 juta individu bujang. – Bernama, 20 Mac, 2014.

House prices to rise moderately


Posted on 19 March 2014 - 05:40am
Eva Yeong

KUALA LUMPUR: Potential buyers looking for property prices to ease this year will be disappointed, according to CH Williams Talhar & Wong which expects prices to go up by 8%-10%.

"If anyone wants to invest and is hoping for prices to ease overall, I don't think it will happen at all. Prices would still be going up. Perhaps people should look into the secondary market as there are still some good purchases hidden in some locations," its managing director Foo Gee Jen said.

He expects house prices to grow moderately this year though, as opposed to the unsustainable price increases of 15% to 18% the property market saw last year.

"Last three to five years, you see property prices in the residential market in the Klang Valley grow 15% to 18% every year. So we've moved to a level of very high prices, which is unsustainable. Gross domestic product (GDP) growth was only about 5% to 6%. What's the real growth of salaries? On average 5% to 7%.

"So how are we going to support that when property prices have grown double of salaries (comparing 7% salary growth with 15% property price growth)?" he questioned.

"With government measures, which I believe should be done on a staggered basis, we can see the impact now. I think the level of sustainability can be maintained because even if property prices increase about 10%, which is about 2% more than salary growth, it is still sustainable and 10% is a healthy level of growth in terms of residential market," Foo told reporters at the CH Williams Talhar & Wong property outlook briefing yesterday.

He said while property prices in the Klang Valley, Johor and Penang will grow more, smaller towns will see 5% to 8% growth, which is in line with the increase in salaries.

For most sectors, price increases will be below 10% but for the industrial sector, Foo said, growth will be between 10% and 15%. In terms of transaction volume, it will drop 10% this year, in line with the decreasing trend from last year where the volume of transactions fell 14%.

"The bulk (of transaction volumes) is in the residential segment where speculators are now more careful with the government's cooling measures. Capital values will rise but volumes will drop but, we will see an uptake in the second half of the year.

"There will always be speculators but whoever wants to speculate now would have to have deeper pockets than before, to hold much longer," he added.

On the government's cooling measures, Foo said the stricter loan guidelines have made the biggest impact, especially on the luxury residential segment.

"Landed property, from what I gather, there's not much issue there. I think the sentiment among the financial institutions concurs with the findings of most consultants that landed property will continue to grow due to scarcity of land. But generally in terms of high-end products, the so-called condo, SOHO (small office home office) and SOVO (small office versatile office), there's a concern of an oversupply situation," he said.

As for the implementation of the goods and services tax (GST) in April 2015, Foo said the perception that property prices will rise with GST may spur investors to buy this year, which in turn will push prices and demand up, balancing out the slow down during the first half of 2014.

"Even though the government said residential property will be zero-rated, I believe there is still a lot of grey area in some of the taxes, how are they going to input, especially the material cost. Eventually there may be still some element of increase. So GST is not entirely zero-rated for residential property.

"There's also a question of uncertainty as to how they are going to apportion the GST with regard to an integrated project. Nowadays it is very common to have many components within one project. If you're going to zero-rate, will the piling works for the integrated project be zero-rated, because there's also a commercial component. This is still a grey area, yet to be seen how government is going to resolve this issue."

Overall, Foo said, the impact is very much on short-term players while genuine buyers (owner-occupiers) and long-term players who buy for long-term rent will not be affected much by the cooling measures.

"This is a knee-jerk effect, people are concerned about what will happen so it's a wait-and-see situation at the moment. I believe by the second quarter or latest by first half of the year, people will realise they can't wait anymore. They still need to push ahead and make decisions on their investments."

GST exemptions on many items for low-income group


Published: Thursday March 20, 2014 MYT 12:00:00 AM 
Updated: Thursday March 20, 2014 MYT 7:14:40 AM

GOODS and services for the lower-income group would mostly be exempted from the goods and services tax (GST) when it comes into effect in April next year, Deputy Finance Minister Datuk Ahmad Maslan said.

He added that the Government would also provide several packages to ease the burden of the low and middle-income earners.

These include a one-off additional payment of RM300 under the BR1M programme next year, above what is usually given.

Other packages are a ‘shoppers guide’ on the change of prices and a reduction of personal income tax rate of between 1% an 3% for all groups.

Ahmad said this in response to a supplementary question by Teo Nie Ching (DAP - Kulai), during the debate on the royal address.

He said enforcement would be stepped up to prevent indiscriminate price increases by traders under the Price Control Act and the Anti-Competition Act that were implemented in 2011.

Ahmad said more than 15,500 restaurants would impose the GST on their food and beverages when it comes into effect in April next year.

At the moment, about 4,360 restaurants enforced the sales and service tax, he said.

“The GST would help restructure the Government’s taxation to make it more efficient while strengthening the nation’s fiscal position for the good of the people.

“GST is not a new tax but rather it replaces the current sales and services tax.

“The Government found weaknesses in this (current) tax, such as the double tax effect where consumers have to pay higher prices.

“The GST can overcome the negative effects to consumers and the nation,” he said, adding that the GST would have a positive effect on the economy.

“Basic goods and services such as health, education, toll and housing are exempted from the GST to ensure that the people’s interest were taken into account.”

Later, at a press conference, Ahmad said details of the RM150mil GST software program subsidy for 55 IT companies are being worked out by the Government to prepare small and medium enterprises for the new tax regime.

He said the companies will supply the software program at a subsidised cost to SMEs with an annual turnover below RM500,000.

GST bad for middle class


Zefry Dahalan | March 21, 2014

A Singapore politician says supporters of the tax in his country are misled by propaganda.

PETALING JAYA: While Barisan Nasional leaders try to convince Malaysians that the Goods and Services Tax (GST) will not burden them, a Singapore politician says the picture has not been so rosy in his country, where the tax was introduced 20 years ago.

“GST has been harmful for the economy and for most working people in Singapore, especially the middle class,” said Tan Kin Lian in a blog article posted recently.

Tan, who describes himself as a social activist, contested in the 2011 Singapore presidential election and finished in fourth place. He runs an organisation that teaches the public about long-term financial security.

He said it would be better for Singapore to scrap the GST and impose higher income tax on the rich.

Singapore introduced the GST in 1994 at 3%. The rate has been increased gradually over the years. It is now 7%.

Tan said many of his compatriots had been misled into believing the GST was good for Singapore by the argument that the coinciding reduction in income tax rates would attract businesses to the country and create jobs for the local population.

“Most of these people are misled by the false propaganda that is fed to them over the years by the government and the proponents of GST,” he said.

He acknowledged that Singapore remained an attractive place for multi-national companies to set up their operational headquarters and manufacturing and research facilities, but he added: “Most of them are attracted by the tax holidays and the other incentives given by the Economic Development Board rather than the lower corporate tax rates.

“They enjoy exemption of tax on their overseas sourced income anyway. This is bad for their host countries, and does not benefit Singapore much, apart from creating a small number of jobs for the operational headquarters.

“Some of the top jobs are not given to Singaporeans, as they are allowed to recruit ‘foreign talents’ to manage these operations.

“I do not see much evidence of companies setting up in Singapore due to the lower corporate tax rates.

“Tax is only one cost of doing business. The other factors, such as rentals and the salaries and skills of local workers, are also important. These two components have increased significantly over the past two decades, more than outstripping the benefit of a lower tax rate.”

A fallacy

Tan said the GST had been a “major contribution” to inflation in Singapore.

“Apart from adding to the cost of goods and services, it also creates additional cost to businesses of accounting and complying with GST.”

He dismissed the argument that the GST, being consumption based, would encourage savings.

“This is a fallacy,” he said.

“For the majority of workers, the cost of paying for essentials takes up most of their income, perhaps more than 80%. They do not really have much choice in avoiding GST by being frugal.”

Tan gave little weight to government cash handouts in alleviating suffering caused by the GST.

“The government has introduced some cash handouts, called GST vouchers, to help the lower income people to offset the GST,” he said.

“This scheme does not benefit the large proportion of workers who earn above the threshold to qualify for these vouchers. They are the middle class that form the large proportion of the population, and is the group that is being squeezed by the high cost of living.

“The big beneficiaries of the GST system are the high income earners in Singapore. They earn their income from working in Singapore and enjoy low taxes.

“The proponents of GST argue that high income tax will drive these talents away from Singapore.

“This is a fallacy. They cannot earn this income by working in other countries.

“Take a look at these high income earners—corporate CEOs, bankers, lawyers, doctors, property developers, political leaders—and you will understand why they like GST.”

Malaysia plans to introduce GST beginning April 2015 despite strong objections from activists and the opposition.

Thursday, March 20, 2014

Maslan: GST impact will be minimal


Leven Woon | March 19, 2014

The Deputy Finance Minister tells Parliament there will be just a 1% hike in restaurant food after the GST comes into effect on April 1, 2015

KUALA LUMPUR: Deputy Finance Minister Ahmad Maslan said food and beverage prices in restaurants were expected to go up by just 1% when the Goods and Services tax (GST) is imposed.

He told the Dewan Rakyat that food materials in most restaurants were already subjected to 5% hidden sales tax.

“It is inaccurate to say the cost of dining at a restaurant would be higher. Actually there will be only be a 1% increase,” he said during a question and answer session.

He, however, conceded that more restaurants would be eligible for taxation under the GST scheme because the threshold would be lowered from the current RM3 million annual turnover to RM500,000

“Now only 4,357 restaurants are eligible to collect the 6% sales and services tax, but when GST is implemented, as many as 15,542 restaurants would be taxed,” he said.

At a press conference later, he said the government has allocated RM175 million as subsidy to help Small and Medium Enterprises (SMEs) to purchase GST-compliant accounting software.

He said 55 companies have been appointed to develop the software, and its selling price would vary subject to different specifications.

“The price range is about RM1,000, but some companies can do it cheaper or some maybe more expensive because it is more sophisticated,” he said

The Pontian MP also said the government is expected to collect RM3.87 billion in revenues after GST is imposed from April 1, 2015.

He said gross revenues is estimated at RM23.18 billion, but it has to be deducted with the loss of revenues due to the abolition of sales and services tax (RM14.4 billion), provision of government aid (RM2.49 billion) and the reduction of income tax (RM2.42 billion).

Demand for houses to go up in second half


The Malaysian Reserve | March 19, 2014

By John Gilbert

KUALA LUMPUR: Residential property demand is expected to increase in the second-half (2H) of this year as buyers try to beat the April 1, 2015 deadline, in anticipation of higher prices due to the implementation of the Goods and Services Tax (GST), said chartered surveyor and international property consultants CH Williams Talhar & Wong (WTW) MD Foo Gee Jen said.

Foo said the uncertainty of whether buyers will have to bear any rise in costs for new houses, could likely motivate them to buy or invest in properties before the GST is implemented.

He said the rush on property purchases will also balance the slower 1H of 2014 with stronger demand as many potential property buyers are currently in a “wait and see” situation.

“There are still ‘grey areas’ in the property sector which the government needs to look at, especially in material costs and related costs that should or should not be pushed on to the customers.

“However, it would be good for property buyers to make a decision within the first six months and this in tandem will also push up property prices and demand, which will benefit the developers,” Foo told reporters at a media briefing entitled Property Market Outlook 2014 in Kuala Lumpur yesterday.

He said the GST is not entirely zero-rated for residential properties as there is uncertainty on how the government will resolve the grey areas concerning residential projects.

A WTW survey showed the outlook for the property sector in Malaysia, particularly the residential and industrial sub-segments, is expected to remain robust in 2014 despite a minor setback due to the government’s cooling measures like the Real Property Gains Tax and Developer Interest Bearing Scheme.

The measures, which also involved tightening of loans by banks, will have some impact.

However, the demand and purchase of residential property is expected to remain robust despite these measures.

The WTW survey showed the industrial sector will continue to grow at a healthy pace, supported by both foreign and domestic investments.

“The only setback for the industrial sector is that it requires huge capital outlay and as it requires huge capital expenditure for development, it is an area developers must work hand-in-hand with the government as infrastructure projects are very expensive,” Foo said.

Adding that growth of industrial developments has been consistent between 10% and 15% annually, Foo said developers should look into areas such as Klang and Shah Alam, which offer good opportunities to develop industrial projects.

The WTW survey showed industrial premises moving up marginally in 2013 with selected industrial areas such as Shah Alam seeing rents appreciate strongly from RM1.20 to RM1.50 per sq ft (psf) in 2010 to RM1.30 to RM2.75 in 2013, while other areas such as
Taman Perindustrian KIP in Kuala Lumpur have seen industrial rents remain flat in 2013 at RM1.40 to RM1.70 psf compared with 2012.

Pandamaran Industrial Estate in Klang saw 3% to 4% growth annually from 2010 to 2013 — rising from 80 sen to RM1.10 psf in 2010 to 90 sen to RM1.20 psf in 2013.

On green buildings, Foo said the government must offer incentives for buildings that have green features and to encourage developers to build green buildings like in Singapore and Hong Kong.

Foo said property prices will not ease and will continue to go up and as such, buyers should look at secondary market as an alternative as there are still areas that offer good property buys.

Housing market to taper off


The Malaysian Reserve | March 17, 2014

By Farah Adilla

KUALA LUMPUR: The residential property market is expected to taper off in the first-half of 2014 (1H14) following various cooling measures introduced by the government, stricter bank lending guidelines and new price thresholds for foreign ownership, according to a research report by KFH Research Ltd.

However, the research house said the market is expected to pick up before Goods and Services Tax (GST) kicks off in April 2015.

“We think that the segment of high-rise properties will face more severe impact while landed properties, which is driven by genuine occupational demand, will see limited impact.

“We gather that a lot of developers have deferred their new launches and revised down their internal sales target in 2014 in view of impending implementation of cooling measures.

“We also observed that many developers were in the final push for sales the last quarter of 2013 in view of impending implementation of new measures in 2014,” the report said.

Some measures introduced during the government’s Budget 2014 include the increase of Real Property Gains Tax (RPGT) to 30% for gains on properties disposed of within the holding period of up to three years. For disposals within the holding period of up to four and five years, the rates are decreased to 20% and 15% respectively.

The government also introduced a new minimum price for property that can be purchased by foreigners to RM1 million from RM500,000.

Meanwhile, CIMB Research said the impact of the new policy on the property market, which is going to be negative in the short-term, should be positive over the longer-term as it will help remove froth from some segments in the market.

“We believe that buying interest should progressively return in 1H14 as potential house buyers come to the realisation that property prices are unlikely to fall and that potential inflationary pressures from the implementation of the GST in April 2015 could push up property prices further.

“Strong sales by developers will, in turn, help to rerate property stocks,” CIMB Research said in a report published on Dec 10, last year.

KFH Research added that despite the slowdown in price growth and sales volume, it is unlikely to be for long as in the past.

“Typically, we will see some marginal weakness in two to three quarters following announcement of a hike in RPGT and subsequently sales will normalise,” KFH Research said. KFH Research said the key long-term driver for the sector, young population, is still intact.

“As long as the number of households is increasing, demand for younger families or couples seeking new homes is always there.

In the Klang Valley, strong demand is seen among young buyers for landed houses priced between RM600,000 and RM800,000 as well as high-rise properties priced around RM500,000.

“The run-up in property prices during recent years suggests that a forced shift of demand to more affordable housing or properties located in suburban and fringe areas will take place.

“In fact, some developers are switching their focus to affordable housing or fringe areas instead of launching high-end properties,” it added.

Customs DG: 55 firms picked to supply GST-compliant accounting software


Posted on March 13, 2014, Thursday

PUTRAJAYA: Fifty-five companies have been picked to be suppliers of goods and services tax (GST)-compliant accounting software for registered small and medium enterprises (SMEs), Royal Customs Department director-general Datuk Seri Khazali Ahmad said yesterday.

He said the companies were selected from a list of 72 firms that had applied to the department to provide the service.

Their names would be listed in the department’s website and published in the local newspapers soon to facilitate SMEs to buy the software, he said.

“SMEs that have bought the software can produce the receipt to SME Corp to get the subsidy. However, the quantum of the subsidy has not been decided,” he told reporters after presenting certificates to the software suppliers. — Bernama

Precious metals industry players want gst exemption


Posted on March 13, 2014, Thursday

KUALA LUMPUR: Precious metals industry players want the government to exempt goods and services (GST) tax for investment in the metals as they are alternative forms of investment tools similar to stocks and bond.

Public Gold group executive chairman, Datuk Louis Ng, said physical gold would no longer be a viable tool for investment and as a hedge against inflation and foreign exchange fluctuations if the GST were to be imposed.

“By exempting the GST for investment in the precious metals like the most other countries do, more money would flow into the country and this would attract investors.

“It can also encourage more Malaysians to trade and enhance the overall country’s wealth,” he said.

Ng said this at the end of the half-day forum on ‘GST on Investment Precious Metal’ here yesterday.

The forum is organised by Public Gold, a local physical gold and silver trading company.

Royal Malaysian Customs Department Senior Assistant Director 1, GST Division, Rohana Ahmad, in her presentation, said the GST would be imposed at six per cent on investment in precious metals and for paper gold no GST would be imposed.

“It seems that the issue now is that the players are unhappy on GST standard rate (six per cent) on trading of physical gold products,” she said.

Rohana said investment in precious metals – gold, silver and platinum – must be within certain purity standards and meet international financial exchanges’ requirements.

“If the players can back up today’s appeal with strong evidence and presented them in a working paper, the department will study it for possible consideration,” she told Bernama on the sidelines of the forum here yesterday.

At the end of the forum, the participants formed an advisory committee to gather more views about the GST implementation on investment in precious metals. — Bernama

Tambahan BR1M RM300


Publication: HM
Date of publication: Mar 20, 2014
Section heading: Main Section
Page number: 040

Kuala Lumpur: Sebanyak 15,542 restoran dijangka mengutip Cukai Barangan dan Perkhidmatan (GST) apabila ia dilaksanakan 1 April tahun depan.

Timbalan Menteri Kewangan Datuk Ahmad Maslan berkata jumlah itu meningkat berbanding ketika cukai perkhidmatan dikenakan iaitu 4,357 restoran.

"GST adalah satu daripada langkah kerajaan menyusun semula struktur percukaian negara supaya lebih telus, cekap dan mesra peniaga," katanya menjawab soalan Teo Nie Ching (DAP-Kulai) pada Persidangan Dewan Rakyat, di sini, semalam.

Beliau berkata, bagi memastikan kepentingan semua lapisan masyarakat diambil kira, GST akan dikecualikan bagi kategori barangan keperluan asas dan perkhidmatan asas seperti kesihatan, pendidikan swasta, pengangkutan awam, tol dan rumah kediaman.

Ahmad berkata, kajian Jabatan Kastam Diraja Malaysia mendapati golongan berpendapatan RM1,000 ke bawah membelanjakan lebih 33.4 peratus daripada pendapatan mereka ke atas makanan dan minuman manakala 31.4 peratus lagi bagi perumahan, air, elektrik dan bahan api lain.

Ahmad berkata, dengan jumlah 64.8 peratus itu, hampir kesemua barangan dan perkhidmatan itu dikecualikan daripada GST.

Sementara itu, ketika ditemui di lobi Parlimen, Ahmad berkata kerajaan akan memberi tambahan bantuan tunai secara 'one-off' atau sekali pembayaran berjumlah RM300 kepada penerima Bantuan Rakyat 1Malaysia (BR1M) tahun depan bagi menampung kenaikan Indeks Harga Pengguna (IHP) akibat pelaksanaan GST.

Beliau berkata jumlah bantuan itu akan membabitkan peruntukan RM2.5 bilion yang juga sebahagian kutipan hasil GST pada tahun terbabit. - BERNAMA

CPI to see 1.8pc rise next year


Publication: NST
Date of publication: Mar 20, 2014
Section heading: Main Section
Page number: 021

THE Consumer Price Index (CPI) is expected to see a temporary rise of 1.8 per cent when the Goods and Services Tax is implemented next year.

Deputy Finance Minister Datuk Ahmad Maslan told the Dewan Rakyat yesterday that the rise was non-permanent and the tax would not be imposed on basic needs, such as healthcare, private education, public transportation, toll and residential properties.

"A study by the Customs Department indicates that those earning less than RM1,000 spent 33.4 per cent of their income on food and 31.4 per cent on water, electricity and utility bills.

"GST will not be imposed on 64.8 per cent of their monthly expenses."

He a said 15,542 restaurants would impose GST when it is implemented by April next year. Presently, 4,357 restaurants have imposed the sales and services tax.

"GST was introduced to restructure the current taxation system and make it more transparent, effective and business-friendly.

"This will strengthen the government's fiscal position," he said when responding to a question by Teo Nie Ching (DAP-Kulai) who wanted to know more about the GST.

`New tax a boon for residential properties'


Publication: NST
Date of publication: Mar 19, 2014
Section heading: Business Times
Page number: 016
Byline / Author: By Bilqis Bahari

KUALA LUMPUR: The upcoming introduction of the goods and services tax (GST) would positively impact the residential property sector as investors would likely invest in residential segment this year rather than next year.

Talhar & Wong Sdn Bhd managing director Foo Gee Jen said this is because many perceive that the price of houses could be higher in 2015 when the GST is introduced.

"The perception now is that residential developers are going to transfer the additional costs to the buyers once GST is implemented. So people would think that they are going to pay more.

"This would result in the buyers deciding to purchase houses this year instead of next year," he told a media briefing on property market ,here, yesterday.

This, Foo said, would push the demand for residential property as well as its prices.

The GST will be implemented in Malaysia by April 2015.

Meanwhile, the residential demand, particularly affordable housing, will remain highly fuelled by a rapidly growing population of adults between the ages of 25 and 54 and expanding middle-income groups.

Foo said the mid-segment rental market will remain upbeat on the back of a healthy growth in housing demand.

He believes that the overall residential market would remain healthy although the high level of household debt is likely to weigh down on buyers' purchasing ability.

In 2013, the housing market was upbeat with an estimated total of 12,808 new units of terraced, semi-detached and detached houses launched.

The new supply for 2014 is estimated to fall to some 9,800 units in total namely 1,000 detached, 1,800 semi-detached and 70,00 terraced units, Foo said.

He said this year, developers will face the threat of rising construction cost fuelled by higher oil prices and rising material costs.

The cost hike has led developers to build units of smaller floor areas, he said, adding that smaller units are increasingly more popular since they are affordable to a larger segment of prospective buyers.

Industri runcit rancak pada musim raya


Publication: HM
Date of publication: Mar 17, 2014
Section heading: Main Section
Page number: 039

Subang Jaya: Retail Group Malaysia (RGM) menjangkakan industri peruncitan akan kekal sihat tahun ini dengan kadar pertumbuhan tahunan dijangka mencecah enam peratus berbanding 4.5 peratus pada tahun lalu.

Pengarah Urusannya Tan Hai Hsin berkata, situasi itu akan menyaksikan pengwujudan perniagaan runcit baru hampir setiap hari di seluruh negara terutama di bandar besar dan pengguna masih berkunjung ke pusat beli-belah popular pada hujung minggu meskipun mereka terus berhati-hati dalam perbelanjaan masing-masing.

"Kawalan harga dan pemberian Bantuan Rakyat 1Malaysia (BR1M) adalah penyelesaian jangka pendek untuk membantu rakyat menampung kos hidup yang lebih tinggi dengan bantuan untuk meningkatkan pembayaran 'bawa balik' dilihat sebagai penyelesaian jangka sederhana dan panjang," katanya pada majlis taklimat media Goldsoft GST di sini.

Ketika mengulas lanjut mengenai pertumbuhan industri sepanjang tahun, beliau berkata, suku pertama akan menyaksikan pertumbuhan hanya 4.8 peratus meskipun terdapat sambutan Tahun Baru China pada awal Februari.

"Angka suku pertama itu dilihat sebagai pertumbuhan yang agak perlahan disebabkan beberapa faktor penyumbang termasuk kelewatan agihan Bantuan Rakyat 1Malaysia (BR1M), catuan bekalan air di Lembah Klang dan masalah jerebu yang melanda sebahagian kawasan di Malaysia," katanya.

Hai Hsin berkata, industri peruncitan Malaysia dijangka mencatatkan peningkatan pertumbuhan kepada lima peratus pada suku kedua dengan pengguna akan kekal berhati-hati dalam perbelanjaan masing-masing.

Menurutnya, sambutan Hari Raya Aidilfitri yang disambut pada awal suku ketiga akan menyumbang kepada peningkatan kadar pertumbuhan industri kepada 6.3 peratus, namun kenaikan kadar dasar semalaman (OPR) pada separuh kedua tahun ini akan memberi kesan kepada jualan barangan bernilai tinggi.

"Jualan runcit dijangka terus mengekalkan momentum dalam suku keempat dengan kadar pertumbuhan sebanyak 6.5 peratus kerana sambutan perayaan akhir tahun dan cuti sekolah di samping kecenderungan pembeli untuk meningkatkan perbelanjaan masing-masing bagi mengelakkan pembayaran lebih selepas pelaksanaan Cukai Barangan dan Perkhidmatan pada 1 April 2015," katanya.

IMF: Malaysia to record healthy growth


Publication: NST
Date of publication: Mar 17, 2014
Section heading: Business Times
Page number: 001
Byline / Author: By Rupa Damodaran

KUALA LUMPUR: The International Monetary Fund (IMF) expects the Malaysian economy to continue to grow at a healthy pace in 2014, supported by a long pipeline of investment projects, strong consumption and the gradually tightening financial conditions.

"Together with an improved external environment, these trends should offset mild headwinds from fiscal consolidation," said the IMF Executive Board in a statement on Friday.

Under Article IV, a team from the fund prepared a report based on the information and discussions with Malaysian officials following its visit to the country.

The board, headed by managing director Christine Lagarde, concluded the annual Article IV Consultation assessment with Malaysia for 2013 last week.

Growth moderated but registered a healthy 4.7 per cent in 2013 while inflation remained low, the board said, adding that the Malaysian economy is estimated to grow by five per cent in 2014.

While near-term growth prospects are favourable, the economy is exposed to risks from tighter global financial conditions and slower growth in major trading partners, the board added.

Malaysia is well-positioned to cope with the uncertain external environment, it said, noting the skillful management during past periods of market turbulence, healthy reserves, the flexible exchange rate regime and deep capital markets.

While the board welcomed the high-level Fiscal Policy Committee and the plan to reduce subsidies gradually, it also recommended a "credible concrete plan" with a debt target for 2020 to anchor consolidation efforts and reduce dependence on oil revenues.

Describing the current monetary policy stance by Bank Negara Malaysia as appropriately accommodative, it, however, said the central bank should remain vigilant to inflationary pressures and stand ready to adjust policy rates should subsidy rationalisation and the introduction of the goods and services tax (GST) lead to higher headline inflation.

Malaysia's financial system remains sound, well-capitalised and resilient, thanks to a strengthened regulatory and supervisory framework.

The board acknowledged the significant progress made in implementing the recommendations of the Financial Sector Assessment Programme.

"Ongoing global volatility, high household debt and banks' exposure to real estate sector warrant continued vigilance, and may require additional macro-prudential measures.

"The potential for 'risk on-risk off' cycles together with high household debt and rising house prices all require vigilance," it said.

The IMF supported the shift in the fiscal policy aimed at reducing federal debt and rebuilding buffers.

"The improvements in targeting social transfers, restraining wage growth and broadening the tax base, including through the planned GST and greater reliance on property taxes, should help secure the sustainability of Malaysia's public finances while promoting efficiency, equity, and growth objectives."

The fund agreed that increased social spending related to population ageing, and structural reforms to strengthen social safety nets and boost investment, combined with continued exchange rate flexibility, would help facilitate further external rebalancing.

The board also commended the government for the ambitious reform agenda that aims to transform the country into a high income economy, and the initiatives to upgrade human capital and promote inclusiveness.

Priority should remain on improving education level and labour skills, it said.

Dewan Rakyat: Penerima BR1M bakal terima tambahan RM300


2014/03/20 - 04:54:02 AM

Kuala Lumpur: Setiap penerima Bantuan Rakyat 1Malaysia (BR1M) bakal menerima tambahan RM300 seorang sebagai menampung kenaikan Indeks Harga Pengguna (IHP) sebanyak 1.8 peratus, berikutan pelaksanaan Cukai Barang dan Perkhidmatan (GST) mulai 1 April 2015.

Timbalan Menteri Kewangan, Datuk Ahmad Maslan, berkata jumlah bantuan itu yang akan diagihkan tahun depan dijangka membabitkan peruntukan tambahan RM2.5 bilion diserap daripada hasil kutipan GST selepas pelaksanaannya. 

“Pada tahun pertama pelaksanaan GST (2015), jumlah kutipan GST selama sembilan bulan ialah RM23.18 bilion namun jumlah ini perlu ditolak dengan RM14.4 bilion kerana pemansuhan Cukai Jualan dan Perkhidmatan (SST). 

Umum nilai BR1M

“Dengan baki kutipan ini, kita belanjakan melalui beberapa mekanisme termasuk penambahan kepada jumlah BR1M tahun depan sebagai langkah membantu rakyat menghadapi kenaikan IHP.

“Jika kerajaan umum nilai BR1M tahun depan RM700, ditambah RM300 akan dapat RM1,000, jika RM800 maka nilainya menjadi RM1,100 dan jika lebih maka lebih lagilah rakyat dapat BR1M,” katanya kepada pemberita di lobi Parlimen di sini, semalam.

Sementara itu, menjawab soalan Rakyat, Datuk Seri Reezal Merican Naina Merican (BN-Kepala Batas) di Dewan Rakyat, katanya, kerajaan mempunyai mekanisme tersendiri dalam membendung ketirisan GST. 

Katanya, usaha dilakukan bersama Kastam Diraja Malaysia (KDRM) dan Lembaga Hasil Dalam Negeri (LHDN) bagi membendung cubaan pihak tertentu yang mengelak dari dikenakan GST.

Buat kajian

Ahmad berkata, pihaknya turut membuat kajian dan mengambil kira pandangan negara luar yang sudah melaksanakan sistem itu sejak sekian lama termasuk Singapura yang menguatkuasa GST pada 1994 dan United Kingdom pada 1974.

“Memang ada kejadian penipuan bila GST dilaksana dan Kastam mengetahui perkara ini dan kita amat yakin dapat laksana selepas mengambil kira segala perkara yang kita pelajari dari 166 negara atau 83 peratus negara dunia yang melaksana GST. 

“Dalam sistem perisian kita juga mempunyai mekanisme tertentu bagi mengelak risiko penipuan menerusi kerjasama dengan LHDN, ia usaha kita untuk kurangkan ‘ekonomi bawah tanah’ dan membantu menambah keseluruhan pendapatan negara, ” katanya.

Peruncit perlu kuasai sistem GST


WARTAWAN SINAR HARIAN
14 Mac 2014
Hai Hsin (kiri) dan Kwok (tengah) ketika program sesi
penerangan media mengenai Goldsoft GST, di Kuala Lumpur, semalam.
PERUNCIT perlu berdaftar untuk mempelajari dan menguasai sistem pangkalan data cukai barangan dan perkhidmatan (GST) yang baharu, sekurang- kurangnya enam bulan sebelum dilaksanakan pada 1 April 2015.

Presiden Persatuan Peruncit Rantaian Malaysia (MRCA), Datuk Nelson Kwok berkata, penguasaan terhadap sistem baharu itu penting untuk memastikan peruncit bersedia menghadapi pelaksanaan GST, bagi mengelakkan daripada berdepan dengan pelbagai masalah aliran tunai dan tuntutan lain.

“Sekiranya mereka lambat berdaftar dan mempelajari sistem pangkalan data itu, dikhuatiri mereka tidak dapat menguasainya dengan baik dan akan menimbulkan kesulitan,” katanya sempena sesi penerangan media mengenai Goldsoft GST, di Kuala Lumpur, semalam.

Menurutnya, GST akan membolehkan perniagaan runcit untuk menjadi lebih kompetitif di peringkat global kerana tidak ada GST akan dikenakan ke atas barangan dan perkhidmatan yang dieksport, sekali gus membantu mengukuhkan pertumbuhan ekonomi negara.

“Saya ingin menggalakkan semua peruncit terutamanya ahli-ahli MRCA membuat persediaan bagi pelaksanaan GST. Mereka perlu mempunyai sistem yang betul bagi mendapat dan menghasilkan maklumat perakaunan untuk tujuan laporan cukai yang tepat," katanya.

Sementara itu, Pengarah Urusan Kumpulan Peruncit Malaysia, Tan Hai Hsin berkata, pertumbuhan ekonomi pada 2014 untuk industri runcit dijangka enam peratus dan mungkin lebih rendah pada 2015 kerana peralihan perniagaan untuk GST.

“Kesemua sektor perniagaan akan merasai kesan pelaksanaan GST tahun depan pada peringkat permulaan. Selepas ia dilaksanakan, perniagaan akan bertambah baik,” katanya.

Sementara itu, Goldsoft adalah pembekal penyelesaian pengurusan runcit perusahaan bersepadu dengan sokongan GST. Sehingga kini, pelanggan Goldsoft termasuk 220 jenama fesyen di pusat membeli-belah utama di Malaysia, Singapura dan Thailand.

Aeon Big siap sedia hadapi GST


WARTAWAN SINAR HARIAN
15 Mac 2014

PASAR raya besar Aeon Big (M) Sdn Bhd (Aeon Big) telah bersiap sedia menghadapi pelaksanaan cukai barangan dan perkhidmatan (GST) berkuatkuasa 1 April 2015.

Pengarah Aeon Big Mitsuru Nakata berkata, syarikat itu sudah melaksanakan tiga program seminar mengenai GST setakat ini.

“Ketiga-tiga seminar itu merangkumi aspek operasi, barangan dan sistem teknologi maklumat dalam mencari kaedah mengekalkan jualan serta menyediakan perkhidmatan yang berpatutan kepada orang ramai.

“Apa yang boleh saya katakan kami masih lagi dalam persediaan menghadapi GST kerana ini merupakan pertama kali GST dilaksanakan di Malaysia,” katanya selepas majlis penyampaian hadiah peraduan Match & Win.

Sementara itu, Nakata berkata, tahun ini Aeon Big akan memberi tumpuan sepenuhnya dalam proses pengubahsuaian kesemua pasar raya Aeon Big di seluruh negara selepas memfokus kepada penjenamaan semula pada tahun lalu.

Peraduan Watch & Win yang dijalankan pada 25 Oktober 2013 sehingga 5 Disember 2013 menyaksikan pemenang utama, Abu Bakar Mustaffa dari Kedah membawa pulang kereta Nissan Serena.

RM17 million allocated for GST info campaigns, says deputy minister

BY DIYANA IBRAHIM
MARCH 19, 2014

Putrajaya has allocated RM17 million for Goods and Services Tax (GST) campaigns to help the people to better understand the new tax which will come into force in April next year, deputy finance minister Datuk Ahmad Maslan (pic) said today.

"The money will cover advertisements in mainstream newspapers, billboards and social media like Twitter and Facebook," he told a press conference in the parliament building.

He also said 15,542 restaurants would be charging GST when the new tax is enforced.

The number of restaurants is three times more than those charging the service tax now.

However, Ahmad denied that the GST would result in restaurants charging more for food and drinks.

"The GST is only 1% higher than the 5% service tax charged by restaurants now," he said.

He added that the issue does not arise as operating costs like electricity bills are also involved.

"Electricity and others are input costs that can be claimed later. So that means there will be no price hikes," he said.

Ahmad said the government is also allocating RM120 million in subsidies to small and medium enterprises (SMEs) that use the GST system software.

He also said that 55 companies have been appointed to handle the system. – March 19, 2014.

BNM Annual Report: Preserving macro-economic and financial stability


Published: Wednesday March 19, 2014 MYT 5:28:00 PM 
Updated: Wednesday March 19, 2014 MYT 6:29:12 PM

KUALA LUMPUR: Bank Negara Malaysia’s focus will continue to preserve macro-economic and financial stability amid the more complex and challenging environment, says its Governor Tan Sri Dr Zeti Akhtar Aziz.

She said on Wednesday this was part of Bank Negara’s move to address the risks arising from the build-up of destabilising financial imbalances, and at the same time, supporting an inclusive growth.

“While monetary policy is an important policy lever, the (central) bank has also relied on a range of policy tools to achieve these objectives. The focus of monetary policy remains on preserving price stability in an environment of sustainable growth,” she stated in the BNM Annual Report.

Zeti said Bank Negara also had to ensure the interest rate setting does not result in widespread financial distortions or excessive risk-taking behaviour in the economy.

“For sector-specific risks of financial imbalances, a specifically more targeted approach, in the form of macro-prudential and micro-rudential measures, has been implemented.

“While this broader policy tool kit has been relied upon, these measures are not a substitute for the monetary policy stance that is consistent with the prospective economic and financial conditions in the country,” she added.

Zeti pointed out that 2014 marks a year of transition for the world economy. As the recovery in the major advanced economies is sustained, the prolonged period of monetary accommodation will shift towards normalisation.

She acknowledged that challenges remain in managing this period of transition so as not to undermine the recovery. Emerging economies, in particular in Asia, have been resilient during this period of prolonged global slowdown, and will benefit from the global recovery.

As for Malaysia, she said the economic conditions had also continued to improve and the economy was expected to remain on a steady growth path going into 2014 and 2015.

As a highly open economy and an increasingly more liberalised financial system, Malaysia is significantly affected by external developments.

Despite the increased capital flow volatility during the recent months, the domestic financial markets have remained orderly, and financial intermediation has not experienced any disruptions.

Zeti pointed out the high level of international reserves, the low level of external indebtedness and the balance of payments current account surplus continue to reinforce the strength of the Malaysian economy and its capacity to cope with external shocks.

“Beyond the prevailing short-term volatility, structural adjustments and economic transformation efforts currently being implemented will strengthen the fundamentals and growth prospects over the medium term,” she said.

Zeti pointed out the domestic economy was entering a period of higher prices.

“Inflation in 2014 and 2015 is projected to be above its historical average, and to be between 3% and 4%,” she said.

The factors were revisions to a number of administered prices, higher domestic cost factors and the implementation of the Goods and Services Tax (GST) in 2015.

These were occurring at a time of modest global commodity prices, moderate domestic demand pressures and anchored inflationary expectations.

“These price adjustments are, therefore, expected to have a transitory effect on inflation. The impact of these adjustments is projected to diminish over time, and inflation is expected to stabilise in the region of its long-term average of 3%,” she said.

Zeti also said as the government continued with its ongoing plans to contain the fiscal deficit and the level of public sector indebtedness, the challenge was to achieve these fiscal sustainability efforts while remaining supportive of growth.

These fiscal reforms are essential to strengthen the overall resilience of the economy, and to increase the fiscal space to manage future unanticipated shocks, she added.