Posted tagged ‘Indirect Tax’

Goods and Servises Tax Bill

February 23, 2010

22/2/2010

 Government is planning to table this bill in the upcoming parliament sitting.

 PURPOSE: IMPOSITION AND COLLECTION OF GOODS AND SERVICE TAX AND FOR MATTERS CONNECTED THEREWITH.

 The current consumption tax in the form of the sale and service tax (SST) will be abolished and be replaced with GST.

 The reason given by our government to implement this GST is to get more funds for development and expenses. (Estimated to get extra rm1billion then the current collection – which is rm12billions)

 However, there are few clauses which can be said to be arbitrary and disadvantage clause. (more…)

Advertisements