How will GST affect prices, cost of living? he introduction of any new tax is bound to cause some confusion, and the introduction of Malaysia’s GST is no exception. While consumers will have many questions about the new tax, their greatest concern is usually “how will the GST affect prices, and my cost of living?” Contrary to some views that have been circulating, the GST doesn’t automatically increase the price of everything by six per cent. The amount of price change in goods and services will depend on a range of factors. For example, the GST will replace Malaysia’s existing sales and services tax — it will not add up to the sales and services tax. As announced, the government has signalled that it is focused on minimising GST impact by proposing a low standard rate of six per cent and the standard GST rate will not apply to all goods and services........................ #MyGST gstmalaysiainfo/will-gst-affect-prices-cost-living/
Posted on: Fri, 12 Dec 2014 04:01:05 +0000
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