With GST, nation enters a new era of taxing

With this latest development, Malaysia becomes the eighth country of the 10 Asean nations which have introduced the GST.

At the rate of six percent, the GST, which replaces the Sales and Services Tax of 16 per cent used previously, is the lowest of all Asean nations.

The GST will help the country attain surplus budget by 2020 with the government expected to collect RM23.1 billion in taxes this year and RM32 billion next year.

The revenue will be returned to the people to implement projects which will benefit society through the development and provision of social infrastructure.

The government is committed in ensuring that the GST does not burden the people, especially the lower income group by exempting the tax from essential food items, health services, education, and public transport besides specific amounts in water and electricity supply.

To help consumers identify goods not affected by the GST, the Domestic Trade, Cooperatives and Consumerism Ministry (KPDNKK) has published six guide books containing the list of items whose prices had gone down, remained the same or increased after the introduction of the tax.

They can be obtained free-of-charge at the ministry's headquarters and state offices or downloaded from the website http://ebook.kpdnkk.gov.my.

Members of the public can contact the Customs Department at hotline number 1-300-888-500 or 03-8882211 to get further clarification on the GST.

Only businesses which have registered with the GST are allowed to impose the tax and this list can be checked at the website http://gstmalaysiainfo.com/bagaimana-cara-untuk-menyemak-status-gst.