_________________________________________________
IT WILL COME ON 1 APRIL 2015, SO LEARN ALL ABOUT IT….
——–
Click on the link below:
The GST (Goods and Services Tax) Malaysia
—–
Sage puts out GST tutorials on its website http://goo.gl/fb/aqoGtR
Sage Software Sdn Bhd, an accounting software and services provider, has put up a comprehensive “do-it-yourself” page on its website to assist customers on the goods and services tax (GST) and software-related issues.
The website via http://www.sage.my that includes YouTube videos and checklist tools, also features notes on the basic understanding of GST and step-by-step guides on function-specific tasks which incorporates screen captures for easy reference, for example, filing of tax returns.
“There is still misinformation in the market at the moment on the GST, however, we must remain on-track and proactively support customers,” Sage Software managing director Michael Cho said in a statement, in conjunction with the company’s GST training session.
—
WHAT DO YOU THINK WILL HAPPEN TO THE COST OF PRIVATE EDUCATION? “Educational services including private education ranging from pre-school to secondary studies and tertiary education” come under 2. The Goods and Services Tax (exempt supply) Order 2014: the manufacturer or business has to absorb the consumption tax.
Private pre-schools, private schools and private colleges and universities have to pay the GST of 6% but cannot get it back from students. The altrenative is to raise fees to cover GST! If a private college now charges RM5,000 a year, it may raise its fee to RM5,400 which will easily cover the GST of 6%.
Private schools bear cost of non-exempted items http://dlvr.it/7CwnN5
THE Goods and Services Tax (GST) will indirectly cause private secondary school fees to increase.
United Chinese School Teachers Association of Malaysia (Dong Jiao Zong) independent schools working committee deputy chairman Ong Chiow Chuen said the schools are not allowed to collect the 6% GST from parents so some of them may increase the school fees.
It was reported that the management of some Chinese private schools such as Chung Hua High School in Seremban, Pay Fong High School in Malacca and Chung Hwa Independent High School in Kelantan, has decided to increase their school fees.
However, it is learnt that the increase will not exceed 10%.
There are currently 79,308 students in 60 Chinese private schools nationwide.
The National Association of Private Educational Institutions (Napei) also expected tuition fees at some private higher learning institutions to increase after the GST, which will be imposed starting from April 1.
—
YAHOO! MALAYSIA NEWS
Putrajaya unveils GST lists 6 months ahead of consumption tax roll-out
The Malaysian Inside
Putrajaya published a gazette in its official portal today, that showed most food items are exempted from the Goods and Services Tax (GST).
1. The Goods and Services Tax (zero-rated supply) Order 2014: nobody pays GST along the chain.
Items: rice, flour, bread, biscuits, noodles, sugar, salt, cooking oil, tea, coffee, fruits, lentils, vegetables (including spinach), fish, crustaceans, and meat sourced from bovine animals, swine, sheep and poultry; treated water (supplied by a person licensed under the Water Services Industry Act to domestic consumers); first 300 units of electricity to domestic consumers; dictionaries, encyclopaedias, reference books and newspapers;
2. The Goods and Services Tax (exempt supply) Order 2014: the manufacturer or business has to absorb the consumption tax.
Items: residential property, loan financing and hire purchase; life insurance; educational services including private education ranging from pre-school to secondary studies and tertiary education; tolled highways; gold,silver and platinum, in the form of a bar, ingot or wafer; currency exchange service
https://my.news.yahoo.com/putrajaya-unveils-gst-lists-6-months-ahead-consumption-140921842.html
—
MONDAY, 11 AUGUST 2014
1. 9,067 companies of the some 300,000 liable to take part in the GST scheme, had registered with the Customs Department,
2.ZERO-RATED ITEMS
Nearly a third of the 944 items within the consumer price index basket will be zero-rated. Other items will be included in the list after taking into the account public feedback.
Bernama
Gov’t may announce more zero-rated GST items
—–
BUDGET 2014
NST
GST will not be imposed on piped water and first 200 units of electricity per month for domestic consumers.
Transportation services such as bus, train, LRT, taxi, ferry, boat, highway tolls as well as education and health services are exempted from GST.
—
Malaysiakini
BUDGET 2014 The government will introduce the much-criticised goods and service tax (GST) at 6 percent starting 2015.
This is lower than the feared 7 percent which was expected by many quarters.
The GST, which will officially commence on April 1, 2015, will also expand Malaysia’s narrow tax base, which has been limited as only 10 percent of the workforce pay income tax.
GST to start at 6 percent in 2015
—
Video:
…
Free Malaysia Today
Anti-GST protests nationwide
A non-governmental organisation held protests against the implementation of the Goods and Services Tax at several cities in the country, today.
KUALA LUMPUR: The Oppress People’s Network, better known as Jerit, today held protests at selected cities in the country to object the implementation of the Good and Services Tax (GST).
GST is expected to be introduced at the Budget 2014, to be tabled by Prime Minister Najib Tun Razak, who is also Finance Minister, in Parliament, Friday.
In Kuala Lumpur about 20 protesters gathered in front of the Brickfields post office for about 45 minutes to show their dissatisfaction over the implementation of the GST.
…
Other similar protests were staged in Kajang, Shah Alam, Seremban, Ipoh and Malacca.
http://www.freemalaysiatoday.com/category/nation/2013/10/23/anti-gst-protests-nationwide/
—
Free Malaysia Today
Public says ‘Yes’ to GST but…
Majority surveyed agree that GST will be a good source of income for the government but personal taxes and wastage need to be reduced.
Budget2014 Feature
KUALA LUMPUR: The controversial Goods and Services Tax (GST), which is expected to be announced in the 2014 budget next month and implemented in 2015, has received the nod from members of the public.
In a random survey by FMT, Malaysians conceded that the consumption tax was necessary to enhance the government’s revenue and rein in the budget deficit, which stands at RM 14.9 billion.
“My heart says no to GST, but when I look at it logically, GST can become a source of income for the country… as long as it doesn’t burden the rakyat to the point that we are unable to feed ourselves, then I can accept it,” said Nor Atiqah Mohd Zaini, 24, an account executive at a public relations agency.
http://www.freemalaysiatoday.com/category/nation/2013/09/21/public-says-yes-to-gst-but/
Note: FMT doesn’t say how many were surveyed.
—
This is informative and in great detail
ROYAL MALAYSIAN CUSTOMS GENERAL GUIDE (DRAFT) – GST
Jun 26, 2011 – This section will explain to you the scope of GST in Malaysia. The scope ….. customer in Malaysia does not have to charge GST. However …… or driving institute permitted under Motor Vehicles (Driving Schools) Rules,. 1992;
—
Malaysian Insider
Side Views
Goods & Services Tax, is it time? – Veerinderjeet Singh
…
The need for GST is predicated on the fact that the country has been running at a budget deficit for more than 15 years, and that it is important that a clear and sustainable alternative tax base be introduced as the corporate and personal income tax base is very narrow with a few paying taxes to fuel the nations’ expenditure.
A GST is a consumption tax which is broad-based and thus spreads the tax burden across a wider segment of the working population. While GST will replace the existing sales tax (typically imposed at 10%) and service tax (6%), the initial indication from the Government some years ago was that GST would be introduced at the rate of 4%.
…
..As has been the case in several countries which operate a GST (or value added tax (VAT)) system, the rate of GST will likely increase over time, particularly where the introductory rate has been low. For instance, Singapore introduced GST in 1994 at the rate of 3% and the rate is currently 7%.
…
Should GST be introduced at the proposed 4% in Malaysia, it is fairly safe to assume that this rate will increase over time, probably within 5-10 years or so after its introduction. However, if that is the case, then there should be a lowering of the income tax rates as well. An effective tax revenue contributor such as GST will enable corporate and personal income tax rates to be reduced over time.
Read the full article, which is informative, in
—
Free Malaysia Today
‘GST benefits outweigh drawbacks’
The Goods and Services Tax, when implemented, may cause a one-time price increase; though on long haul its benefits outweigh the drawbacks.
Budget2014 Feature
PETALING JAYA: Goods and services at present are subject to a one-time sales and service tax thus a low rate Goods and Services Tax (GST) may have differing impact on prices of goods and services offered, says Tan Eng Yew, executive director of Deloitte Kassim Chan Tax Services Sdn Bhd.
According to Tan, there are many factors to consider including if an item is presently taxed along the supply chain; on the basis of the present sales tax which is at 10% and service tax at 6%.
“Some prices may increase, some may remain and the zero rated items may get cheaper; provided the savings obtained with the implementation of GST is fully passed on to the public,” said Tan.
…
When asked whether GST will burden Malaysians, Tan stated that GST should be understood for what it is, as it is a more efficient consumption tax regime compared to sales and service tax.
…
Meanwhile Malaysian Indian Business Association (MIBA) vice president (FT Chapter) and chartered secretary, S Kumarasen said that the introduction of GST will certainly affect the consumers, and the government should introduce a mechanism to check on the implementation of the GST.
According to him, certain goods’ prices need to be maintained at a ceiling rate and not allow suppliers to increase prices steeply and transfer the burden to consumers.
http://www.freemalaysiatoday.com/category/nation/2013/09/20/gst-benefits-outweigh-drawbacks/
—
Malaysiakini
Kluang MP Liew Chin Tong is demanding the government to disclose the findings of a RM51 million panel to study the implementation of the Goods and Services Tax (GST).
“Pakatan Rakyat and the citizens of Malaysia do not want the government to hide the GST study because it involves the welfare of many people,” he said in a statement today.
He also urged the government to name the consultants engaged to conduct the study.
Liew (left) was responding to Finance Minister (II) Husni Hanadzlah’s statement in Parliament on Thursday that a study on GST was last conducted in 2009 and therefore another study is necessary because the economic situation has since changed.
He pointed out that the government has allocated RM22 million for a ‘Panel Kajian Semula Cukai (GST)‘ (Tax Review Panel (GST)) under the 2010 national budget.
Another RM13 million was allocated in 2011, RM11 million in 2012, and finally RM5 million in 2013 budgets. The total comes to RM51 million.
‘Where are findings of RM51mil GST panel?’
—–
—–
Malaysia Chronicle
Wednesday, 19 June 2013 11:39
Don’t force GST on the people to fund your Maharaja lifestyle – Anwar warns Najib
Written by Malaysia Chronicle
Opposition Leader Anwar Ibrahim warned Prime Minister Najib Razak not to introduce a new Goods and Service Tax (GST) to reduce the budgetary deficit after the latter announced the formation of a special committee to look into ways to reduce the shortfall – at a record high – to 3% bt 2015.
“Unfortunately, Dato Seri Najib continues to govern behind a veil of secrecy,” Anwar told a press conference on Wednesday.
“The BN government must not drag the public to cover for its economic incompetence and policy shortfalls. Any attempts to introduce a new GST albeit in stages to reduce the deficit will be resisted in the same force that the people had resisted electoral fraud.”
Anwar was referring to the Black 505 rallies, a people’s movement spearheaded by the Pakatan Rakyat to protest vote rigging and fraud in the May 5 general election. The hugely successful rallies have drawn more than half a million Malaysians to assemble to demand the resignation of the Election Commission leadership
Just PM’s Office alone – RM4 BILLION a year?
The 64-year-old Anwar also chided Najib for his ‘free-spending’ ways, challenging the latter, who is also the Finance Minister, to refute the Opposition’s estimate that just the prime minister’s office alone spent at least RM4 billion a year on “huge entourages and thousands of personnel”.
“The minister concerned has alluded to the fact that they need RM27 billion in extra revenue or the deficit problem will remain. Our position differs completely with the BN’s. Our position is consistent in that you must start with transparent policies, which means you save billions, stop excessive spending, reduce the exorbitant excessive expenditure of the Prime Minister’s Office, the huge entourage, thousands of personnel and that would already be in the billions,” said Anwar.
“In fact, our initial estimate is that at least RM4bil alone (in budget allocation) is for the Prime Minister’s Maharaja-type of expenditure. And I would challenge him to refute this, which is unprecedented throughout all my experience as Finance Minister and the history of this country.”
Hardship to the people as wage growth has been weak
According to Anwar, GST could only be introduced if the average level of income of “common Malaysians” have risen significantly over a period of 5 years, otherwise it would bring hardship to the working classes. He pointed to the fact that the current wage reality in Malaysia was that only a “low 2.6% average wage growth” had been achieved between 2000 and 2010.
Don’t force GST on the people to fund your Maharaja lifestyle – Anwar warns Najib
—–
Malaysiakini
The government will not implement the goods and services tax (GST) in the near term as it is still studying its implications and rate to be imposed.
Second Finance Minister Ahmad Husni Hanadzlah said the government is still engaging with politicians, the private sector and the general public before arriving at a decision.
“We are relooking our earlier study by taking a holistic view of it.
“We do not want to just see the GST from the point of government revenue but also the prosperity of the people,” he told reporters in Cyberjaya today after opening the 19th Meeting of the World Savings Bank Institute (WSBI) Asia/Pacific Regional Group.
Ahmad Husni said besides generating revenue, the implementation of the GST, is also in tandem with the government’s intention to reduce corporate and personal tax.
“We are also looking at providing some assistance to the people,” he added.
Commenting on the GST rate that may be imposed, he said: “We have to again look it in terms of its benefit to the government, the private sector and the general public.”
He also said the government had set no timeline for the implementation of the GST.
Ahmad Husni: Gov’t will not implement GST in near term
——–
This is what the government is dreaming of….
GST implementation to add up to RM27b to Malaysia’s income.
Last week, it was announced that Malaysia will be able to rake in an additional income of up to RM27 billion if the proposed GST is implemented at 7%, similar to neighbouring Singapore.
Minister in the Prime Minister’s Department, Idris Jala said at a forum that the new taxation mechanism can guarantee additional revenue of RM20 billion to RM27 billion, at maturity.
He added education on the GST was all about how it benefits the country’s economy as well as for Malaysians to understand and accept the taxation mechanism moving forward.
https://www.freemalaysiatoday.com/category/nation/2013/05/21/pemandu-quashes-gst-rumours
—
Malaysiakini
GST will burden every M’sian by RM1,000 a year’
Every Malaysian will be burdened by an extra RM 1,000 a year should the government impose a 7 percent Goods and Services Tax (GST) rate, Penang Chief Minister Lim Guan Eng has said.
He also said that the GST rate would make it easy for the federal government to hand out Bantuan Rakyat 1Malaysia (BR1M) of RM1,200 as it has promised, because the government stands to earn an extra RM5,000 from every household by implementing GST.
“BN will reap great profits while the rakyat who are of the lower income group will be the ones who will suffer losses,” he said in a statement today.
‘GST will burden every M’sian by RM1,000 a year’
—
Free Malaysia Today
Pemandu quashes GST rumours
Pemandu quashes rumours that GST has been implemented by government.
PETALING JAYA: The much criticised goods and services tax (GST) has not been implemented on the sly as has been claimed by several quarters, as the government is still in the process of educating the public on VAT (value added tax), said the government’s Performance Management and Delivery Unit (Pemandu) today.
Pemandu’s finance unit made this statement today to quash rumours that the GST had been implemented by the Barisan Nasional government without the people’s knowledge.
“For the time being, the status quo is per our reports that we are in the process of educating the public on VAT, which is value added tax,” a Pemandu senior manager who gave his name as only Foong, told FMT today.
Asked as to when the government was planning to implement the GST, Foong said there was no set date.
“We are referring the GST to the cabinet, but we have yet to reach a decision as to when to implement it,” he said.
https://www.freemalaysiatoday.com/category/nation/2013/05/21/pemandu-quashes-gst-rumours
—
Malaysiakini
|
Idris Jala, the minister in the Prime Minister’s Department, has been asked to state the exact Goods and Services Tax (GST) tax rate, given the confusion that has been created.
PKR’s Kelana Jaya MP Wong Chen said that, in a parliamentary debate last year, the government had said the proposed rate would be four percent.
However, Idris had hinted during a forum last Friday that the government might look at a seven percent rate, following the Singapore model.
“If they really want to follow the Singapore model, they should start with three percent, because Singapore started with three percent,” Wong (right) told a press conference today.
He also criticised the government for not taking measures to curb corruption and overspending, and said BN has “no right” to talk about GST until it completes tackling more fundamental issues.
“The current fiscal crisis can be averted by eliminating mega projects of dubious benefit and excessive costs, and by tackling corruption seriously,” Wong said.
“Unless, and until it demonstrates that it can cut down on profligate spending and effectively fight corruption, the BN government has no right to introduce GST,” he further added.
Wong said that though PKR understands the rationale behind the government’s plan to widen the tax base, it also notes that the current tax base is not because of tax evasion, but due to poor household incomes.
“The current problem of a weak tax base is about low pay and income insecurity.
“(Therefore,) Promising corporate and income tax cuts to offset GST will only help the rich,” he stressed.
—
Click on the link below:
The GST (Goods and Services Tax) Malaysia
——————————————————————–
weehingthong 
Reblogged this on weehingthong.
Pingback: Anti GST Rally, Dataran Merdeka, 1 May 2014: 2pm | weehingthong
Pingback: GST begins on April Fool’s Day 2015 | weehingthong
Pingback: Malaysia: Trending Hashtags of 2015 | weehingthong