GST EVENT CALENDAR

GST MALAYSIA CALCULATOR

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Friday, September 14, 2012

GST tidak dilaksanakan tahun ini: Donald Lim


Publication: BH
Date of publication: Sep 13, 2012
Section heading: Bisnes

KUALA LUMPUR: Cadangan pelaksanaan Cukai Barangan dan Perkhidmatan (GST) tidak dilaksanakan tahun ini memandangkan kerajaan sedang berusaha mewujudkan kesedaran mengenai mekanisme percukaian baharu dalam kalangan rakyat, kata Timbalan Menteri Kewangan, Datuk Donald Lim Siang Chai hari ini.

Beliau berkata, kempen kesedaran anjuran Kementerian Kewangan berjalan lancar dan dijangkakan selesai tidak lama lagi.
"Kami mahu rakyat Malaysia memahami apa itu GST sebelum Rang Undang-undang mengenainya (GST) dibentangkan di Parlimen untuk bacaan kedua.

"(Bagaimanapun), rang undang-undang itu dijangka tidak dibentangkan pada sesi persidangan Parlimen akan datang disebabkan saya tidak yakin kempen-kempen kesedaran akan selesai dalam tempoh itu," katanya selepas melancarkan Sidang Kemuncak CFO 2012 anjuran Institut Kepimpinan dan Strategi Asia (ASLI), kumpulan pemikir bebas utama Malaysia.

Dalam perkembangan lain, Lim berkata, Kementerian Kewangan mengarahkan semua kementerian dan agensi kerajaan supaya tidak melewatkan bayaran kepada kontraktor binaan.

Sambil menegaskan bahawa kontraktor mesti dibayar dengan cepat, beliau berkata, bayaran perlu dilakukan mengikut masa yang ditetapkan memandangkan tunai ibarat "nyawa" kepada mereka (kontraktor), terutama kontraktor kecil.

"Bukan saja agensi kerajaan, sektor swasta juga wajar mengikuti usaha yang dilakukan oleh agensi dan kerajaan di Jepun dan Jerman yang membayar kontraktor masing-masing dengan segera," katanya. - BERNAMA

Thursday, September 13, 2012

GST bukan tahun ini



Harian Metro
Sep 13, 2012, Page 049, Main Section
Oleh Helmy Abd Rahman

KERAJAAN tidak akan implimentasi cadangan pelaksanaan Cukai Barangan dan Perkhidmatan (GST) tahun ini, sebaliknya meneruskan usaha mewujudkan kesedaran awam mengenai mekanisme percukaian baru.

Timbalan Menteri Kewangan, Datuk Donald Lim Siang Chai berkata, ini kerana kerajaan mahu rakyat lebih dulu memahami GST sebelum rang undang-undang mengenai cukai berkenaan dibentangkan di Parlimen untuk bacaan kedua.

“Kempen kesedaran mengenai GST anjuran Kementerian Kewangan sedang berjalan lancar dan ia dijangkakan selesai dalam tempoh terdekat.

“Rang undang-undang mengenai cadangan ini bagaimanapun tidak dibentangkan pada sesi persidangan Parlimen akan datang disebabkan saya tidak yakin kempen kesedaran dijalankan akan selesai dalam tempoh berkenaan,” katanya selepas melancarkan Sidang Kemuncak CFO (Ketua Pegawai Kewangan) 2012 anjuran Institut Kepimpinan dan Strategi Asia (Asli) di Kuala Lumpur, semalam.

Dalam perkembangan lain, beliau berkata, kerajaan diunjurkan meraih perolehan melebihi RM200 bilion berbanding sasaran awal sebanyak RM187 bilion tahun ini, sekali gus membolehkannya membuat penambahan bantuan kewangan untuk rakyat.

“Setakat Jun 2012, Perbendaharaan merekodkan perolehan berjumlah RM99 bilion. Peningkatan ini sebahagian besarnya diperoleh hasil kutipan cukai dipertingkatkan, sumbangan lebih tinggi Jabatan Kastam Diraja Malaysia selain pertumbuhan transaksi hartanah,” katanya.

Terdahulu, Lim dalam ucapannya berkata, ekonomi negara dijangka mengekalkan momentum pertumbuhan untuk baki dua suku terakhir tahun ini dan ia mencerminkan peningkatan Indeks Utama pada kadar 1.4 peratus mulai Oktober 2011 hingga Mac 2012. “Pertumbuhan permintaan dijangka meningkat membabitkan penggunaan swasta serta aktiviti pelaburan yang tinggi. Dari segi bekalan pula, pertumbuhan akan disokong perkembangan berterusan sektor perkhidmatan dan pembuatan,” katanya.

Timbalan menteri: Kerajaan tidak laksana GST tahun ini


12 September 2012


KUALA LUMPUR - Cadangan pelaksanaan Cukai Barangan dan Perkhidmatan (GST) tidak dilaksanakan tahun ini memandangkan kerajaan sedang berusaha mewujudkan kesedaran mengenai mekanisme percukaian baharu dalam kalangan rakyat, kata Timbalan Menteri Kewangan Datuk Donald Lim Siang Chai hari ini.
   
Beliau berkata kempen kesedaran anjuran Kementerian Kewangan berjalan lancar dan dijangkakan selesai tidak lama lagi.
   
"Kami mahu rakyat Malaysia memahami apa itu GST sebelum Rang Undang-undang mengenainya (GST) dibentangkan di Parlimen untuk bacaan kedua.
   
"(Bagaimanapun), rang undang-undang itu dijangka tidak dibentangkan pada sesi persidangan Parlimen akan datang disebabkan saya tidak yakin kempen-kempen kesedaran akan selesai dalam tempoh itu," katanya kepada pemberita selepas melancarkan Sidang Kemuncak CFO 2012 anjuran Institut Kepimpinan dan Strategi Asia (ASLI), kumpulan pemikir bebas utama Malaysia.
   
Dalam perkembangan lain, Lim berkata Kementerian Kewangan mengarahkan semua kementerian dan agensi kerajaan supaya tidak melewatkan bayaran kepada kontraktor binaan.
   
Sambil menegaskan bahawa kontraktor mesti dibayar dengan cepat, beliau berkata bayaran perlu dilakukan mengikut masa yang ditetapkan memandangkan tunai ibarat "nyawa" kepada mereka (kontraktor), terutama kontraktor kecil.
   
"Tidak setakat agensi kerajaan, sektor swasta juga wajar mengikuti usaha yang dilakukan oleh agensi dan kerajaan di Jepun dan Jerman yang membayar kontraktor masing-masing dengan segera," katanya. - Bernama

Donald Lim: No GST this year, awareness campaigns in progress

Published: Wednesday September 12, 2012

KUALA LUMPUR: The Goods and Services Tax (GST) will not be implemented this year as the focus is on creating awareness for a new taxation mechanism for the people, Deputy Finance Minister Datuk Donald Lim Siang Chai said.
He said awareness campaigns organised by the Finance Ministry are progressing well and are expected to conclude soon.
"We want all Malaysians to understand thoroughly what the GST is about before tabling the GST Bill for second reading in Parliament.
"It's not likely to be tabled in the next Parliament session as the awareness campaigns will not have concluded by then," he told reporters after opening the CFO Summit 2012 hosted by the Asian Strategy and Leadership Institute.
On another matter, Lim said ministries and government agencies have been instructed not to delay payments to building contractors.
"It should be done on time because cash is like "blood" for them (contractors), especially the smaller players.
"Not only government agencies, the private sector must also emulate the steps taken by agencies and companies in Japan and Germany in paying their contractors (promptly)," he added. - Bernama.

Malaysia not imposing GST this year

Business Times

Date: September 12, 2012

KUALA LUMPUR: The Goods and Services Tax (GST) will not be implemented this year as the government is focusing on creating awareness on the new taxation mechanism among the people, Deputy Finance Minister Datuk Donald Lim Siang Chai said today.

He said awareness campaigns organised by the Finance Ministry are progressing well and are expected to conclude soon.

"We want all Malaysians to understand thoroughly what the GST is all about before tabling the GST Bill for second reading in Parliament.

"It's not likely to be tabled in the next Parliament session as the awareness campaigns will not have concluded by then," he told reporters after opening the CFO Summit 2012 hosted by the Asian Strategy and Leadership Institute.

On another matter, Lim said ministries and government agencies have been instructed not to delay payments to building contractors.

"It should be done on time because cash is like "blood" for them (contractors), especially the smaller players.

"Not only government agencies, the private sector must also emulate the steps taken by agencies and companies in Japan and Germany in paying their contractors (promptly)," he added. -- BERNAMA

No GST this year: Dep Finance Minister


12 September 2012


KUALA LUMPUR: The Goods and Services Tax (GST) will not be implemented this year as the government is focusing on creating awareness on the new taxation mechanism among the people, Deputy Finance Minister Datuk Donald Lim Siang Chai said today.

He said awareness campaigns organised by the Finance Ministry are progressing well and are expected to conclude soon.
"We want all Malaysians to understand thoroughly what the GST is all about before tabling the GST Bill for second reading in Parliament.
"It's not likely to be tabled in the next Parliament session as the awareness campaigns will not have concluded by then," he told reporters after opening the CFO Summit 2012 hosted by the Asian Strategy and Leadership Institute.
On another matter, Lim said ministries and government agencies have been instructed not to delay payments to building contractors.
"It should be done on time because cash is like "blood" for them (contractors), especially the smaller players.
"Not only government agencies, the private sector must also emulate the steps taken by agencies and companies in Japan and Germany in paying their contractors (promptly)," he added. -- BERNAMA

Deputy Finance Minister, Senator Datuk Ir Donald Lim Siang Chai (R) with President Malaysian Financial Planing Council, Vincent Kwo Shih Kang speak on MFPC & FPAM Financial Planing Seminar at Bukit Kiara Equstrian Club. File pix by Nurul Syazana Rose Razman.


Read more: No GST this year: Dep Finance Minister - Latest - New Straits Times http://www.nst.com.my/latest/no-gst-this-year-dep-finance-minister-1.142577#ixzz2WLeL5X7b

Wednesday, September 12, 2012

No GST this year: Datuk Donald Lim



Posted on September 12, 2012, Wednesday

KUALA LUMPUR: The Goods and Services Tax (GST) will not be implemented this year as the government is focusing on creating awareness on the new taxation mechanism among the people, Deputy Finance Minister Datuk Donald Lim Siang Chai said today.

He said awareness campaigns organised by the Finance Ministry are progressing well and are expected to conclude soon.

“We want all Malaysians to understand thoroughly what the GST is all about before tabling the GST Bill for second reading in Parliament.

“It’s not likely to be tabled in the next Parliament session as the awareness campaigns will not have concluded by then,” he told reporters after opening the CFO Summit 2012 hosted by the Asian Strategy and Leadership Institute.

On another matter, Lim said ministries and government agencies have been instructed not to delay payments to building contractors.

“It should be done on time because cash is like “blood” for them (contractors), especially the smaller players.

“Not only government agencies, the private sector must also emulate the steps taken by agencies and companies in Japan and Germany in paying their contractors (promptly),” he added. –Bernama

Read more: http://www.theborneopost.com/2012/09/12/no-gst-this-year-datuk-donald-lim/#ixzz2WCA8hKxN

No GST rollout this year, says Donald Lim


SEPTEMBER 12, 2012

KUALA LUMPUR, Sept 12 — The proposed goods and services tax (GST) will not be implemented this year as the government is now creating awareness on the new taxation mechanism among the people, Deputy Finance Minister Datuk Donald Lim Siang Chai said today.
He said awareness campaigns organised by the Finance Ministry were progressing well and expected to conclude soon.
“We want all Malaysians to first understand what the GST is all about before tabling the (GST) Bill for second reading in Parliament.
“(However), the Bill is not likely to be tabled in the next Parliament session because I don’t think the awareness campaigns will be concluded by then,” Lim (picture) told reporters after launching the CFO Summit 2012 organised by the Asian Strategy and Leadership Institute (ASLI), Malaysia’s leading independent private think-tank.
On another matter, Lim said the Finance Ministry has instructed ministries and government agencies not to delay payments to building contractors.
Stressing that contractors must be paid promptly, he said: “It should be done on time because cash is like ‘blood’ for them (contractors), especially the smaller players.
“Not only government agencies, the private sector must also emulate steps taken by agencies and companies in Japan and Germany in paying their contractors (promptly),” he added. — Bernama

No GST this year, awareness campaigns in progress: Lim


KUALA LUMPUR (Sept 12, 2012): The Goods and Services Tax (GST) will not be implemented this year as the government is focusing on creating awareness on the new taxation mechanism among the people, Deputy Finance Minister Datuk Donald Lim Siang Chai said today.

He said awareness campaigns organised by the Finance Ministry are progressing well and are expected to conclude soon. "We want all Malaysians to understand thoroughly what the GST is all about before tabling the GST Bill for second reading in Parliament.

"It's not likely to be tabled in the next Parliament session as the awareness campaigns will not have concluded by then," he told reporters after opening the CFO Summit 2012 hosted by the Asian Strategy and Leadership Institute.

On another matter, Lim said ministries and government agencies have been instructed not to delay payments to building contractors.

"It should be done on time because cash is like "blood" for them (contractors), especially the smaller players.


"Not only government agencies, the private sector must also emulate the steps taken by agencies and companies in Japan and Germany in paying their contractors (promptly)," he added. -- Bernama

Lagi gesaan kurangkan cukai korporat


Publication: BH
Date of publication: Sep 11, 2012
Section heading: Bisnes
Page number: 004


PERSEKUTUAN Pekilang-pekilang Malaysia FMM) mengulangi gesaan supaya kerajaan memperkenal cukai korporat yang lebih kompetitif dalam Bajet 2013.

Naib Presiden Raja Datuk Abdul Aziz Raja Muda Musa, berkata pengeluaran adalah sektor yang sangat penting, dengan menyumbang kira-kira 29 peratus kepada keluaran dalam negara kasar negara (KDNK).

Selain mengurangkan cukai korporat, kami juga berharap kerajaan menawarkan insentif untuk menarik lebih banyak pelaburan domestik dan pelaburan langsung asing (FDI), katanya.

Dalam bajet yang akan dibentangkan oleh Perdana Menteri Datuk Seri Najib Tun Razak di Parlimen ada 28 September ini, Abdul Aziz berharap kerajaan akan mengurangkan cukai korporat bagi menarik lebih banyak FDI selain menyediakan insentif untuk bersaing dengan negara lain.

Pelepasan cukai

Insentif yang dijangkakan ialah pelepasan cukai bagi pemasangan mesin dan peralatan baharu dan insentif menaik taraf kilang pengeluaran, katanya. Abdul Aziz berkata, walaupun penurunan cukai korporat akan mengurangkan pendapatan kerajaan, kekurangan itu boleh diimbangi dengan melaksanakan Cukai Barangan dan Perkhidmatan (GST).

Kita perlu mengkaji pelaksanaannya di negara lain sebelum menyemak semula cukai korporat supaya ia dapat menarik pelaburan, katanya.

Walaupun FMM kerap menggesa kerajaan menyemak menurun cukai korporat sebelum ini, cukai korporat Malaysia masih pada 25 peratus.

Monday, September 10, 2012

A more effective solution



Posted on September 10, 2012, Monday

THE Malaysian government may soon be implementing the long awaited good and service tax (GST) which will replace the existing current sales tax (five per cent to 10 per cent) and the service tax (six per cent).

If the percentage of GST is determined at four per cent or five per cent then, it will be lower than the current sales tax of 10 per cent or service tax of six per cent. This series of seven articles will be publised on Mondays, Wednesdays and Fridays and highlight the purpose of the GST and why the public should support it.

Part 4

This fourth article deals with the current sales and service tax.

A service tax is rated at six per cent (effective from January 2011) imposed under the Service Tax Act 1975. The service tax is collected by the business and to be paid to the government every two months.

A service tax applies to certain prescribed goods and services in Malaysia including food, drinks and tobacco; provision of rooms for lodging and premises for meetings, conventions, and cultural and fashion shows; health services, and provision of accommodation and food by private hospitals.

The tax also applies to professional and consultancy services provided by accountants, advocates and solicitors, engineers, architect,  surveyors (including valuers, assessors and real estate agents), advertising agencies, consultancy firms and management service providers.

It also includes insurance companies, motor vehicle service and repair centres, telecommunication services companies, security and guard services agencies, recreational clubs, estate agents, parking space services operators and courier service firms.

However, professional services provided by a company to companies within the same group will be exempted from the current service tax of six per cent. Courier services provided from a point within Malaysia to a destination outside Malaysia will also be exempted from the service tax of six per cent.

Sales tax is a single stage tax imposed at the import or manufacturing levels. Sales tax that is practiced in this country is a single stage tax levied on certain imported and locally manufactured goods, either at the time of importation or at the time the goods are sold or otherwise disposed of by the manufacturer.

In Malaysia, manufacturers of taxable goods are required to be licenced under the Sales Tax Act 1972. Companies with a sales turnover of less than RM100,000 and companies with Licenced Manufacturing Warehouse (LMW) status are exempted from this licencing requirement. However, companies with a sales turnover of less than RM100,000 have to apply for a certificate of exemption from licencing.

Tax on goods imported is assessed and paid at the time the goods are cleared from customs control. It will be calculated and shown on the import declaration together with the customs duties to be paid (if any).

Tax on goods manufactured in the country is to be charged and levied by the licenced manufacturer at the time goods are sold or disposed of otherwise than by sale. Any disposal of goods by a licenced manufacturer otherwise than by sale or first used otherwise than as materials in the manufacture of taxable goods by the licenced manufacturer, is also chargeable to sales tax. Disposal can include self-use, to destroy, to give away, to donate and to supply free of charge, etc.

Sales tax is generally at 10 per cent. Certain non-essential foodstuffs and building materials are taxed at five per cent, general goods at 10 per cent, liquor at 20 per cent and cigarettes at 25 per cent.

There are some exemptions for certain primary commodities, basic foodstuffs, basic building materials, certain agricultural implements and heavy machinery for use in the construction industry. Certain tourism and sports goods, books, newspapers and reading materials are also exempted.

Recently, the government in Malaysia seems to want to do away with the sales and service tax and replace it with the more effective GST. This is because these two taxes are ineffective and inefficient in collecting taxes due in an equitable manner. The sales tax is often charged again and again through many cycles of the supply chain.

The government is thinking of introducing a new tax system, GST, which is already adopted in 140 other countries. As the GST may be a more efficient system and the proposed tax is only at four per cent to five per cent, this may be a relief to all Malaysians.

The GST will be a more fair and equitable tax for all Malaysians and will provide a better source of income for the government for its development projects. It is truly a win-win situation for all.

For further inquiries, please refer to www.gst.customs.gov.my.

Read more: http://www.theborneopost.com/2012/09/10/a-more-effective-solution/#ixzz2WC9aATQm