Khamis, 9 April 2015

Goods and Services Tax: Myth vs Fact

Despite some claim that the rate of GST in Malaysia is high, we can clearly see from the above picture that our tax rate is the lowest for goods and services.

There is no such thing of accumulation of tax value in GST. Along the supply chain, manufacturer, wholesaler and retailer can claim back from the government for what they have been taxed. In other words, it is not (6+6+6+6)% of tax that are imposed to consumers. The fact, it is only the one-time 6% tax that is imposed to customers.

The new tax is worse than the previous tax? Try to look the comparison above.

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