Hornbill Unleashed

April 28, 2017

BN: Zero-rating GST hurts government, businesses

Filed under: Politics — Hornbill Unleashed @ 8:01 AM

Barisan Nasional accused Pakatan Harapan of moving Malaysia backwards with their plan to increase corporate taxes and to dismantle the consumption tax. — Bernama picThe government and businesses will have to continue bearing administrative expenses related to the Goods and Services Tax (GST) even if it is zero-rated, Barisan Nasional (BN) said today.

The BN strategic communications team accused Pakatan Harapan of moving Malaysia backwards with their plan to increase corporate taxes and to dismantle the consumption tax, saying that other countries were doing the opposite.

“Malaysia will then make history as the first and only country in the world which has a GST system set at 0%.

“The world will laugh at us for having a tax system that will burden the government and businesses with administrative duties and expenses but has no tax revenue for the government,” said the BN strategic communications team in a statement.

The ruling coalition pointed out that while the GST has been introduced, the sales and services taxes were abolished, while corporate and personal income taxes were reduced.

DAP secretary-general Lim Guan Eng claimed yesterday that it was more cost-effective to retain the GST, but at a zero rate, as much has been spent to implement it.


Source :   @ Malay Mail Online


 

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