Government to set up panel to monitor GST's implementation

Published: Monday November 18, 2013 MYT 12:00:00 AM 

Updated: Monday November 18, 2013 MYT 8:06:09 AM

IPOH: The Government will set up a committee to monitor the implementation of the Goods and Services Tax (GST).

Second Finance Minister Datuk Seri Ahmad Husni Hanadzlah said the committee, which he would chair, would also explain the GST to the public.

This was to ensure that the people fully understood the tax system once it had been implemented in April 2015, he said.

“The committee will comprise representatives of various ministries, government agencies and non-governmental organisations.

“We are listing the names of those who will be involved in the committee, which I hope can be set up by the end of next month,” he told reporters at the Tambun Barisan Nasional parliamentary constituency Deepavali open house yesterday.

Ahmad Husni said the Bill on the GST would likely be tabled in Parliament early next year, after which the mechanism for its implementation would be announced.

Among others, he said, it would stipulate the companies that needed to register and the products that would be exempted.

“We want to make sure that the system is implemented without any hiccups, so proper planning is very important,” he said.

He said about 160 countries had already implement the GST and Malaysia could gain from their experience.