Don't Be Surprised If You Are Already Being Charged For 6% GST
Some businesses in the Klang Valley are already issuing receipts that include a GST charge at 6% although the Goods and Services Tax is not due for implementation until 2015.freemalaysiatoday.com
This has alarmed some consumers, but according to an official at the Customs Department, no law has been broken.
The charge is actually for the currently applicable service tax, sometimes printed as “Govt Tax” on cash register receipts.
Apparently, some establishments have tweaked their cash registers in preparation for April 1, 2015, the date the GST will be introduced, as announced by Prime Minister Najib Tun Razak in his budget speech last October.freemalaysiatoday.com
"I Never Said Without GST, Malaysia Will Be Bankrupt"
Prime Minister Datuk Seri Najib Razak denied that he was referring to the Goods and Services Tax (GST) when implying that the country needed the broad-based consumption tax to avoid bankruptcy.
His denial came two weeks after he was slammed by the Opposition for his statement.themalaysianinsider.com
Claiming he was misquoted by the media, Najib in his speech at the Retired Civil Servants Umno Club appreciation luncheon in Putrajaya today said, "I never said without GST, Malaysia will be bankrupt.
"I said if we spend non-stop and don't collect taxes, we'll be like Greece."yahoo.com
Najib said while the GST is not a cure for the country’s fiscal deficit, it was an important strategy to prop the economy to make Malaysia an advanced nation.
“When we reduce the fiscal deficit, the economy will be stronger and it will help us achieve our goal of becoming an advanced nation.
“If the economy is not strong, how are we going to pay for everything?” he said.themalaysianinsider.com
The Star Says PM Najib Did NOT Equate Not Having GST With Bankruptcy
Prime Minister Datuk Seri Najib Tun Razak did not equate not having the goods and services tax (GST) with bankruptcy.thestar.com.my
What he said was that the Government was introducing the GST because the current taxation system was not efficient as only 1.34 million workers out of 14 million paid income tax.thestar.com.my
He said the additional revenue would allow the Government to finance future developments and the GST was a more equitable taxation system.thestar.com.my
Choose GST Or Bankruptcy, Najib Says
Malaysia has a stark choice of either increasing government revenue via the goods and services tax (GST) or burdening the country by borrowing more money.thestar.com.my
Prime Minister Datuk Seri Najib Tun Razak said the implementation of GST was necessary as the country risked becoming bankrupt like Greece if it resorted to borrowing.thestar.com.my
“We have to find additional sources of income and that’s why we have to implement the GST,” he said at a seminar on Strengthening the National Economy.thestar.com.my
Pakatan Rakyat, "GST Is Not Some Miracle Drug That Can Be Used To Fix The Country's Poor Finances."
The PR lawmakers chided Najib for describing GST as a necessity to avoid bankruptcy yesterday, arguing that Malaysia’s finances would break nevertheless if corruption and “leakages” remain rampant and unchecked.yahoo.com
"Corruption, wastage and lavish spending are main reasons why this country is facing bankruptcy," DAP Petaling Jaya Utara MP Tony Pua told reporters in Parliament today, 26 Nov 2013.themalaysianinsider.com
PKR strategic director and Pandan MP Rafizi Ramli pointed out that Malaysia’s weak financial position, including its worrying debt level of close to 55 per cent of GDP, stemmed from corruption and wastage.themalaymailonline.com
PR is opposed to the timing of the GST, insisting that it should not be introduced until the country achieves high-income status. They assert that imposing the consumption tax now would broaden the inequality between the rich and poor.themalaymailonline.com
Najib, "We Want New Roads, New Schools And Universities And These Require More Allocations. So, We Need Revenue. Otherwise, Who Is Going To Pay For All These?"
Tax evasion is a treasonous act as it tantamounts to deterring the country’s development, says Prime Minister Datuk Seri Najib Razak today, 24 November 2013.nst.com.my
Najib said the act of paying taxes was in line with the definition of patriotism, which includes meeting responsibilities for the benefit of the nation, "If we pay our taxes, it means that we are taking part in helping (to develop) the country and the rakyat as well."nst.com.my
"We want new roads, new schools and universities and these require more allocations. So, we need revenue. Otherwise, who is agoing to pay for all these? The other option is to take loans, but if we continue to borrow, what will happen, (if) we cannot pay, the country's rating will drop, we will be bankrupt, the people will suffer, we cannot manage the country like this," he added.nst.com.my