Maintain GST at 6 per cent at outset, urges ACCCIM

The Associated Chinese Chambers of Commerce and Industry of Malaysia (ACCCIM) has urged the government to maintain the Goods and Services Tax (GST) at six per cent for between three and five years at the outset.

Its President, Datuk Lim Kok Cheong also asked the government to allow an interim period of at least one year to enable the business sector and public to have enough time to comply with the new tax system.

"In the meantime, upon the GST implementation, the government should reduce certain taxes such as corporate and personal taxes to ease the burden of the people," he said at the ACCCIM's 68th anniversary dinner here Wednesday night.

The dinner, which was also held to mark the 40th anniversary of the Malaysia-China diplomatic ties, was graced by Prime Minister Datuk Seri Najib Razak.

Malaysia is set to introduce the GST at six per cent from April 2015.

Meanwhile, Lim gave his assurance that ACCCIM would continue to work closely with the government, including providing feedback and inputs on the transformation drives.

Asserting that the Government Transformation Programme and the Economic Transformation Programme are vigorously promoted by ACCCIM, he said, "We believe that if these transformation programmes are successfully implemented, more business opportunities will be created."