Sorry, the "no reason" is referred to by the stupid minister. Should have put in quote

I have 4 business and they are GST ready. Do you think I will miss out this once in a lifetime opportunity not to hike price ? It is too perfect a reason to increase my selling price and my customers are too busy accepting prices of everything is increase

GST is going to make people who earn millions and pay zero tax pay the GST when they use their money to buy luxury goods, luxury cars, fine dining, holidays etc.
Some of these would include the BBB people, people who play the sharemarket, profiting from illegal activities (drugs, black $$$), businessman who 'cook' their books and many more.
Currently only honest poor people who work for bosses pay tax.

Car's current sales tax = 10%. GST proposed = 4%. Rich people save 6%

Fine dining current service tax = 6%. GST proposed = 4%. Rich people save 2%

Many raw material used in manufacturing proses current sales tax = 10%. GST proposed = 4%. Rich businessmen save cost 6%

So, rich people actually benefit from GST if the GST rate is maintain at 4%. It is a sad world isn't it ?

Bros, you have a very good knowledge on GST.
Sadly acknowledged that the world isn't fair.
GST is a classic example that the rich will become richer whereas the poor will become poorer.
I mean rich are those who have very high income and they are mostly enterpreneurs.

BTW,personally feel that it can't eliminate smuggling activities (which some people alleged that GST can eliminate smuggling activities).
e.g. Smuggling liquors.

The liquors don't pay input tax as the liquors aren't declared in the custom.
Then the non-taxed liquors are sold to the consumers. The smugglers won't issue any invoices for these liquors and the consumers normally won't request for these invoices (since they know these are illegal liquors or they are also the end users). In this way, the custom just simply can't trace these GST from these smuggling liquors.

Appreciate if you can comment any loopholes for the above transactions on smuggling activities.

This post has been edited by Denis: May 23 2013, 08:59 AM

It's very difficult to say as GST is yet to be implemented,

if it is implemented, I don't think we have to pay GST for property as we've already paid STAMP duty upon signing the Documents

Dude, totally different issues.

Sorry bro, don't know much about smuggling activities

Renovation cost will be +++ after got GST....

blood sucked dried law tht benefit who? the citizen?

Slaughtering citizen is more like it. Huhuhu

exactly!!!

Most likely, the residential properties will be exempted from GST like what most countries would do.

residential properties & agriculture land, essential items and basic necessities is exempted.
study more on gst and make some quick money during the transition period (pre-gst & post gst).

Yeaa...

I studied GST more than ten years ago while I was in an Australian program.

u know la dis country...

so that 5% discount for early birds becomes moot?

GST is part of Malaysia ETP action plan to curb the ever rising national debts which has exceeded the threshold of 55% of country's annual GDP. It has to be done as many Malaysian are earning low to medium incomes that prevented the conventional "progressive tax" to work effectively, hence causing insufficient taxes to be collected to finances the entire government expenditure.

Malaysia has initiated ETP, which is driven by PEMANDU, headed by Dato' Sri Idris Jala, former CEO of MAS Airline, to overcome country worst nightmare, which is facing bankruptcy in a not too distant future.

Malaysia has a approximately 28 million people and it is estimated that more than 40% of these population are below 25 years old, 5% are above 55 years old and nothing more than 4% is jobless. Majority of these people do not pay taxes. When the progressive tax failed miserably, Government turns to these people in the above mentioned categories for solutions.

Despite living without "active" income in Malaysia, the only way the Government is able to make gain from these people is by introducing the "blanket tax", which is also known as GST.

Besides introducing GST in Malaysia ETP, Government is also reducing subsidies periodically from the year 2010 till the end of 2014 to as to promotes savings.


By reducing subsidies to these goods and facitilities, it will also promotes the rise in good and services price tags.

Good luck Malaysia!

This post has been edited by public_mutual: Jul 8 2013, 11:38 AM

Sigh....its really case state our country is in

"11% of the Gov's earnings come from 83% of household debt" BFM. I guess that isn't enough

I'm not surprised Malaysia is facing virtual bankruptcy from the way certain people spend, I hear our 1Malaysia Tank is even more expensive than the M1 Abrams

IINM countries that implement GST also provide financial and healthcare safety nets like in UK, else we'll end up like Thailand with their VAT then the lower denominators will suffer an endless cycle or hardcore poor.

Idris Jala? The guy that ran MAS into the ground?
So now CEO's that bankrupt companies are promoted to bankrupt the country?

While the better governments will find ways to earn more money by getting it from foreigners/foreign countries ours seems to only know how to get from their own people. Its like a drunkard abusive father whom doesn't want to work but milks money by forcing his wife and daughters to be prostitutes and collect their earnings.