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Malaysia not imposing GST this year

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Malaysia not imposing GST this year Empty Malaysia not imposing GST this year

Post by hlk Wed 12 Sep 2012, 23:24

KUALA LUMPUR: The Goods and Services Tax (GST) will not be implemented
this year as the government is focusing on 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 are progressing well and are expected to conclude soon.

"We
want all Malaysians to understand thoroughly what the GST is all about
before tabling the GST Bill for second reading in Parliament.

"It's
not likely to be tabled in the next Parliament session as the awareness
campaigns will not have concluded by then," he told reporters after
opening the CFO Summit 2012 hosted by the Asian Strategy and Leadership
Institute.

On another matter, Lim said ministries and government
agencies have been instructed not to delay payments to building
contractors.

"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 the
steps taken by agencies and companies in Japan and Germany in paying
their contractors (promptly)," he added. -- BERNAMA
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