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Bursa: GST will have minimal impact on trading
by Cals Tue 31 Mar 2015, 21:51
Bursa: GST will have minimal impact on trading
By Fatin Rasyiqah Mustaza / theedgemarkets.com | March 31, 2015 : 2:41 PM MYT
[size=14]KUALA LUMPUR: [size=14]Bursa ([You must be registered and logged in to see this image.] Financial Dashboard) Malaysia stressed that the 6% Goods and Services Tax will be imposed on trading transactions as it is a service, but not on the value of the transaction.
Hence investors will not be charged at a surplus, said Bursa's director of corporate services Rosidah Baharom to reporters during a short break in the company’s annual general meeting today
"It is only applicable on the transaction fees as GST is also a charge on services. Let's say when investors purchase shares and the transaction is RM40, there will be a plus 6% charge on the trade," said Rosidah.
The implementation of the consumption tax, which starts tomorrow, will only have minimal impact on trading, said Bursa chief regulatory officer Selvarany Rasiah.
"I don't believe that GST will be a dampener for traders to trade," said Selvarany.
Meanwhile, Bursa's chief executive officer Datuk Tajuddin Atan sees that 2015 will be a challenging year for the local market as commodities are expected to move in a volatile manner, coupled with uncertain external factors.[/size]
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By Fatin Rasyiqah Mustaza / theedgemarkets.com | March 31, 2015 : 2:41 PM MYT
[size=14]KUALA LUMPUR: [size=14]Bursa ([You must be registered and logged in to see this image.] Financial Dashboard) Malaysia stressed that the 6% Goods and Services Tax will be imposed on trading transactions as it is a service, but not on the value of the transaction.
Hence investors will not be charged at a surplus, said Bursa's director of corporate services Rosidah Baharom to reporters during a short break in the company’s annual general meeting today
"It is only applicable on the transaction fees as GST is also a charge on services. Let's say when investors purchase shares and the transaction is RM40, there will be a plus 6% charge on the trade," said Rosidah.
The implementation of the consumption tax, which starts tomorrow, will only have minimal impact on trading, said Bursa chief regulatory officer Selvarany Rasiah.
"I don't believe that GST will be a dampener for traders to trade," said Selvarany.
Meanwhile, Bursa's chief executive officer Datuk Tajuddin Atan sees that 2015 will be a challenging year for the local market as commodities are expected to move in a volatile manner, coupled with uncertain external factors.[/size]
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