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
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