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Think tank predicts wider fiscal deficit for Malaysia

  • May 18, 2018
Think tank BMI Research has revised its forecast on Malaysia’s fiscal deficit, predicting that the deficit will be wider than previously anticipated.In a statement today, it said it is revising its 2018 forecast from 2.8 percent of GDP to 4.0 percent of GDP. It is also revising its average deficit forecast for the period from 2018 to 2027 from 2.8 percent of GDP to 3.1 percent of GDP.This followed the Ministry of Finance’s (MOF) announcement that the GST standard rate of six percent will be
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Zero percent GST beginning June - Finance Ministry

  • May 16, 2018
The Finance Ministry today announced that the goods and services tax (GST) rate will be reduced from six percent to zero percent effective June 1.The announcement came shortly after Prime Minister Dr Mahathir Mohamad announced that he had instructed the government to stop collecting GST.The removal of GST is part of the new Pakatan Harapan government's manifesto which it promised to implement within 100 days.Today marks the seventh day the new ruling coalition is in power after it ended BN's 61-
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Dr M instructs gov't to halt GST, impose fixed petrol price

  • May 16, 2018
Prime Minister Dr Mahathir Mohamad today instructed the government to stop collecting goods and services tax (GST) and impose a fixed petrol price."The instruction has been given so we will no longer collect GST," he told a press conference at his Perdana Leadership Foundation in Putrajaya.Whatever excess taxes collected under GST will be refunded, he added.Scrapping GST was among the promises Pakatan Harapan made for its first 100 days in power if the coalition assumed federal power.Yesterday,
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Zeti: We will tell how GST can be abolished in 100 days

  • May 15, 2018
The Pakatan Harapan government may not be able to abolish the goods and services tax (GST) in its first 100 days as promised.However, the five-member advisory council appointed by Prime Minister Dr Mahathir Mohamad will outline how the GST can be abolished in the first 100 days, according to council member Zeti Akhtar Aziz (above) today."Prime Minister Dr Mahathir Mohamad has mentioned many times that we will follow the rules existing in our country and we are not going to deviate from any of th
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Zeti: M'sia can meet revenue requirement without GST

  • May 14, 2018
Malaysia can meet its revenue requirements even after shelving the goods and services tax (GST) by prioritising its projects, increasing the efficiency of the public sector, avoiding wastage and exploring new sources of revenue, says Zeti Akhtar Aziz.The former Bank Negara governor also expressed her confidence in the country's economy which can be steered towards the right direction and the 100-day time frame is certainly adequate to provide clarity and make necessary adjustments and changes."I
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Happy Labour's Day from ROS

  • May 1, 2018
Do you feel the burden of GST?It is the weight of ROS.Happy Labour's Day!Work hard hard, money stolen, ROS gain weight.#votewisely #undipakatanharapan
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Yoursay: Scrapping GST may not bring prices down but…

  • May 1, 2018
Abolishing GST makes ringgit and sense for Muar tradersZekir Naik Kunta: Before Goods and Services Tax (GST) was introduced, many goods had sales tax exemptions. But with GST, there is an additional cost of 6 percent applicable to all products, and depending on the number of distributors to end user in the distribution chain, the consumer would end up paying about 12 to 24 percent in cumulative taxes.What about other factors? The cost of employing an accounts officer or outsourcing the job
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GST double standards unfair to Malaysians

  • Apr 18, 2018
COMMENT | A poem in Malay has been disseminated widely through social media:Pisang emas dibawa belayar,Masak sebiji di atas peti,Cukai GST rakyat kena bayar,Syarikat China boleh dikecualiBriefly, in my own words, it means that while Malaysian citizens of all races, religions and social backgrounds have to pay goods and services tax (GST), a Chinese corporation gets to enjoy zero GST.This really puts me off, not because I do not agree to the Customs Department granting the China Communications Co
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‘If Chinese firm gets GST relief, so should local companies’

  • Apr 18, 2018
If China Communications Construction Company (CCCC) can be given relief from paying goods and services tax (GST) in its procurement of the East Coast Rail Link (ECRL), then the same relief should be given to local companies as well.DAP’s Bukit Mertajam candidate Steven Sim said this is based on the government’s reasoning that the ECRL project is of “public importance”.“Based on this reason, then the federal government should also give tax relief from GST to public projects and state go
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PH Helps Malaysians, Not Company From China.

  • Apr 16, 2018
PH Helps Malaysians.Not Company From China.#phhelpsmalaysianshttp://demirakyat.live/news/226
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