GST AKAN DILAKSANAKAN PADA 1 APRIL 2015 DAN CUKAI JUALAN DAN CUKAI PERKHIDMATAN (SST) DIHAPUSKAN SERENTAK!! KADAR STANDARD GST ADALAH 6%.
Cukai Barang & Perkhidmatan (CBP) @ Goods & Services Tax (GST) Malaysia
Friday, October 25, 2013
#Bajet2014 Preview: Live
25 Okt 2014 Jumaat
5.10ptg: GST AKAN DILAKSANAKAN PADA 1 APRIL 2015 DAN CUKAI JUALAN DAN CUKAI PERKHIDMATAN (SST) DIHAPUSKAN SERENTAK!! KADAR STANDARD GST ADALAH 6%.
5.09ptg: Dana pinjaman mudah RM50 juta di bawah Tabung Usahawan Siswazah yang dilaksanakan bagi membantu siswazah menceburi dunia keusahawanan serta memberikan galakan golongan ini untuk menjadi usahawan selepas tamat pengajian bagi mengurangkan kadar pengangguran.
5.07ptg: Pejabat Pembangunan Usahawan Negara akan diwujudkan di bawah Unit Strategi Nasional bagi merancang dan menyelaras aktiviti usahawan.
5.07ptg: Pejabat Pembangunan Usahawan Negara akan diwujudkan di bawah Unit Strategi Nasional bagi merancang dan menyelaras aktiviti usahawan.
5.06ptg: Kerajaan akan melaksanakan fasa kedua Projek jalur Lebar Berkelajuan Tinggi (HSBB) dengan kos RM1.8 bilion, di mana ia akan beri tambahan liputan terutama di kawasan bandar.
5.05ptg: Tabung Khas Infrastruktur Pelancongan berjumlah RM2 bilion akan disediakan sebagai pinjaman mudah bagi membiayai pembinaan infrastruktur dan pembelian peralatan.
4.54ptg: Tahun 2015 diumumkan sebagai “Year of Festival” dengan sasaran peningkatan jumlah pelancong ke Malaysia. Tahun 2014 pula sebagai Tahun Melawat Malaysia dengan sasaran 28 juta pelancong.
4.48ptg: Kerajaan akan menggubal Dasar Penerbangan Nasional bagi memperkukuhkan eko-sistem dan rantaian perkhidmatan industri penerbangan. Satu pusat pengurusan trafik penerbangan baharu bernilai RM700 juta juga akan dibina di Lapangan Terbang Antarabangsa Kuala Lumpur (KLIA) bagi menggantikan sistem pengurusan sedia ada di Subang yang kini sudah berusia 20 tahun. Sistem baharu ini akan meningkatkan gerakan trafik daripada 68 kepada 108 pergerakan setiap jam. Ini adalah antara tertinggi di dunia. Beberapa lapangan terbang terutama di Sabah dan Sarawak iaitu di Kota Kinabalu, Sandakan, Miri, Sibu dan Mukah akan dinaik taraf dengan peruntukan RM312 juta. Terminal penumpang di Langkawi dan Kuantan juga akan dinaik taraf.
4.46ptg: Kerajaan menyediakan RM1.6 bilion pada 2014 bagi pembangunan di lima wilayah Koridor. Antara projek utama ialah industri berasaskan kelapa sawit atau Wilayah Pembangunan Sabah dan Taman Perindustrian Samalaju serta hab halal atau Wilayah Koridor Sarawak. Di Wilayah Pantai Timur, kerajaan akan melaksanakan perluaskan Pelabuhan Kuantan, pembinaan Kompleks Petrokimia Bersepadu di Gebeng & Kertih.
4.44ptg: Pelaburan swasta dianggar meningkat kepada RM189 bilion (17.9 peratus Keluaran Dalam Negara Kasar) terutama bidang minyak dan gas, tekstil, pengangkutan dan hartanah.
4.43ptg: Ekonomi negara dijangka berkembang 4.5 peratus hingga 5 peratus untuk 2013, disokong pertumbuhan pelaburan swasta sebanyak 16.2 peratus (RM165 bilion)
PEMBENTANGAN #BAJET2014 OLEH YAB PM @NajibRazak 25/10/13
Saksikan siaran langsung pembentangan #Bajet2014 oleh YAB @NajibRazak, Perdana Menteri merangkap Menteri Kewangan Malaysia pada jam 4.00 petang, Jumaat, 25 Oktober 2013.
Adakah persoalan mengenai pelaksanaan GST akan terjawab hari ini?
Sama-sama kita saksikan
GST to result in poor paying less sales tax: Expert Read more: GST to result in poor paying less sales tax: Expert
25 October 2013| last updated at 01:38PM
KUALA LUMPUR: Malaysians need to understand that the Goods and Services Tax (GST) that is likely to be implemented in 2015 is a modified version, with the inclusion of a zero rate and exempt items, as well as a sales threshold, as found in most countries.
Former professor of Applied Economics and Dean of Faculty of Economics and Administration, Universiti of Malaya Tan Sri Dr Fong Chan Onn explained, the modified GST that is to be adopted by Malaysia will allow for some 40 basic food necessities to be listed as zero tax items, including rice, sugar, milk powder and flour, while essential services, such as healthcare, may be classified as tax-exempt.
"At a personal level, through the modified GST the public can decide for themselves whether to pay consumption taxes when dining out or avoid tax payments by preparing their own meals with essential items that are exempt from the GST," he told Bernama here.
The GST will replace the 16 per cent sales and services tax (SST) now levied on certain goods and services, such as food and beverages in restaurants and hotel services. Presently, much of the public does not realise that even those who are not required to pay income tax still pay sales taxes and service taxes on goods and services they consume through the SST.
This is because most consumers are not aware that the tax has been embedded in the price of goods and services sold by retailers.
That is why some economists point out that since most items are already being taxed under SST, the transition from SST to GST will ease the burden on the poor, as some items they purchase would become zero tax items.
In principle, GST is supposedly a regressive tax, since it is imposed on all goods and services produced in the country, including imports.
However, as explained by Deputy Head of the School of Business, Monash University of Malaysia Prof Jeyapalan Kasipillai, there are ways to mitigate the tax burden faced by middle and lower income groups, as well as small businesses.
"Essential supplies of over 40 items would be either zero-rated or exempted, and such a move would be favourable to the broader community, particularly the lower income groups," he wrote in an article published in a local newspaper on Oct 19. Zero-rated goods and services are those items that have no tax charged to consumers, which means the consumer will pay GST at the rate of zero per cent. He said based on the data compiled from the Household Expenditure survey (HES), which collates information on levels and trends of consumption expenditures by households on a wide range of goods and services, the finding suggest that GST can be fairly progressive.
Some analysts have predicted that the new tax is likely to start at four per cent, and may later rise to six per cent.
Malaysia is among the last ASEAN countries, together with Myanmar and Brunei, that has not implemented the GST. Indonesia introduced the GST in 1985, Thailand in 1992 and Singapore in 1994. Dr Fong also explained that GST, a broad-based consumption tax or value added tax, is part of the fiscal reforms undertaken by the government to reduce deficits and achieve a balanced budget by 2020. This would serve as more broad-based revenue collection system that will greatly expand the number of taxpayers as the fairest method of taxing the general public.
Currently, only 1.7 million of the country's 29 million citizens pay income tax. With GST in place, there is no doubt that there will be differences in how Malaysians spend. First, they will be calculating the tax, then evaluating it as to whether a purchase is worthwhile.
Then, if consumers do not feel the purchase is needed at the price asked, they will either seek a less expensive alternative or choose not to continue with the purchase. -- BERNAMA
Kerajaan Akan Laksanakan Apa Yang Betul Untuk Ekonomi – PM
October 24, 2013
KUALA LUMPUR – Perdana Menteri, Datuk Seri Najib Razak hari ini berkata ekonomi Malaysia mesti terus berdaya tahan bagi menyediakan asas untuk pertumbuhan dan kemakmuran masa depan.
Bercakap menjelang pembentangan Belanjawan 2014 yang ditunggu-tunggu, Perdana Menteri hari ini menekankan pentingnya supaya agenda transformasi kerajaan diteruskan.
Beliau berkata kerajaan mesti memenuhi janjinya kepada rakyat dan mengelak melaksanakan langkah-langkah populis yang akan menggugat kestabilan ekonomi.
Menyedari krisis kewangan global dan krisis zon Euro, Najib berkata ekonomi yang kukuh akan membantu menjamin masa depan Malaysia.
“Kita tidak boleh mengawal apa yang berlaku di luar negara, namun kita boleh berusaha untuk mengukuhkan daya tahan domestik ekonomi kita,” kata Najib yang juga Menteri Kewangan dalam satu kenyataan yang dikeluarkan oleh Pejabat Perdana Menteri hari ini.
Perdana Menteri berkata kerajaan akan melakukan apa yang betul untuk ekonomi. Beberapa langkah mungkin tidak popular sekarang, namun dalam jangka sederhana apa yang baik untuk ekonomi juga baik untuk rakyat.
GST: killing the golden goose - Liew Chin Tong
OCTOBER 25, 2013
The proposed goods and services tax (GST) will tax those who can’t afford to be taxed, i.e. 60% of Malaysians who are eligible for BR1M. These are the people who will soon be taxed by the regressive tax, together with the rest of us who live and stay in this country.
I would like to drop the Orwellian double speak so prevalently employed by many GST apologists who are trying to mask the real issue. I will share my views plainly here.
Flawed arguments
Some argue that the government has to be cruel to be kind. Hence, BN would have us believe that the fuel hike subsidy rationalisation is needed to balance the government’s expenditure and ensure its good financial standing.
In theory, this sounds legit. However, look closer and you will find many flaws in the argument. For one, this argument does not take into account the adverse effects on the man on the street. It also demonstrates an incomplete understanding of how the economy grows or declines.
What is the real reason for the Barisan Nasional government to implement the GST? This tax has hung like a sword of Damocles over our heads since Tun Abdullah Ahmad Badawi's era in 2005.
GST apologists’ main argument is that it is the most effective form of taxation. What does “most effective” mean? Simply put, it means that the government can obtain more tax revenue from our pockets.
Another pro-GST argument is that since 140 odd countries have implemented it, Malaysia should follow suit . However, you do not find BN supporters rushing to follow in the footsteps of other countries’ democratisation processes. For example, most countries in the world set the voting age at around 18, so why do we not adopt the “follow the majority” argument in this instance?
GST widens inequality
In the past decade, particularly after the 2008 global financial crisis, the global economy has become acutely concerned about income inequality - the gap between the haves and the have nots.
Scholars and thinkers the world over have acknowledged the negative effect that GST has on the income gap.
Assume my income is RM10,000 and I spend RM1,000 and I’m charged a 5% GST or RM50 for the goods and services I consume. RM1,000 is just 1/10 of my supposed RM10,000 income. Imagine a person earns RM1,000 per month and spend all his income to consume goods and services and pays a similar 5% GST. RM50 to a person who earns RM10,000 and to a person who earns RM1,000 carries an absolutely different meaning. The lower income person will suffer more.
The BN apologists also argue that GST is fair, since it taxes everyone in a country where the majority do not pay tax. A belated consolation to the minority taxpaying group who have been contributing to the national coffers, if you will.
However, 60% of Malaysians are eligible for the BR1M financial aid, meaning to say 60% of Malaysian families earn less than RM3,000 a month. They are already struggling to make ends meet. They do not pay taxes because they are below the tax-paying threshold.
Of course there are those who evade paying tax, I believe that we have adequate laws to deal with this, if the enforcement is done properly.
The middle income group will suffer too
Some advocates for GST said, the daily necessities of the poor are not subject to GST. I would like to ask them, who are the poor? If 60% of Malaysians need BR1M money, that means 60% of the country's families are struggling. If what the 60% need are exempted from GST, might as well we keep to the old system as there is no GST system that exempts 60% of people and still remains worthwhile to run.
How do we differentiate between daily necessities for poor people and for normal people? Are we not degrading the quality of life of those trapped in the middle income group through their consumption of GST-exempted products meant for the poor?
One other argument is that by introducing GST, we can reduce sales tax and eventually, income tax.
While we recognise that Malaysia’s tax system does no favours to the middle income bracket who earn between RM5,000 and RM10,000, the cure is not the introduction of GST. This unfortunate fact of high tax for middle income bracket should be rectified by tax adjustments to reduce the burden of the middle income families, shifting the focus to the super-rich.
Malaysia’s GST is not like in the UK, Australia and other developed nations where top income tax rate were 50% and above before the introduction of the GST. For them, tax cuts were the natural course of action after the introduction of GST.
There is little room to manoeuvre for a tax cut with the Malaysian income tax rate which is not that high by comparison.
Killing the golden goose
BN ministers have said that the GST is a necessary evil to balance the accounts and to reduce deficit and debts. To most of us, such a statement means that the only “balance” it seems to bring is to allow the powers-that-be to continue to squander the nation’s wealth - business as usual.
The crux of the matter is this: killing the golden goose. Here’s what I mean by “golden goose”- our economy is no longer as export-reliant as it once heavily was. While previously, our biggest trading partner was the US, in the past three years the growth of our economy has heavily depended on domestic consumption.
Apart from the government’s expenditure, domestic consumption comprises the money spent by ordinary citizens, mostly via debt. Hence, the rakyat who spend money are the “golden geese”.
Malaysia’s household debt is the second highest in all of Asia. Should the bubble burst, we will have many casualties.
I would like to reiterate that arguably, GST by nature is designed to tax those who cannot afford to be taxed in the first place. The 60% of citizens who are eligible for BR1M aid will now be taxed by GST, shrinking the domestic consumer market - i.e. the disposable income that could have been spent buying goods is now taken away by tax.
In this scenario, imposing GST at this stage will be akin to killing the golden goose. It would not be far fetched to imagine the worst case scenario of GST not as the feared monster of inflation, but the falling demand that precedes a recession.
* Liew Chin Tong is the DAP Member of Parliament for Kluang, Johor.
* This is the personal opinion of the writer or publication and does not necessarily represent the views of The Malaysian Insider.
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