KUALA LUMPUR – Most people are expected to understand the implications of the Goods and Services Tax (GST) by the time it is implemented by April next year.
Under-Secretary, Corporate Strategy and Communication Division, Ministry of Finance, Datuk S. Kumaran, said enough communication channels were available for them to understand GST.
“There are some issues with the business community as to how they can align with the GST requirements and concern among the rakyat that the GST will increase the cost of living,” he said at the sidelines of the GST briefing for media and non-government organisations here today.
Kumaran said while there would be one to two per cent increase in the cost of living initially, it would taper off in a matured GST environment.
In a GST ennvironment, he said, the more well-off would pay more tax as they consumed more goods and services compared to the low-end of the society.
For them, most of the goods and services consumed would be zero-rated or they don’t have to pay GST, he said. – BERNAMA