Published: Sunday November 29, 2009 MYT 5:46:00 PM
Comprehensive studies carried out on GST: Husni
IPOH: The government has carried out a comprehensive study on the plan to implement the goods and services tax (GST) to ensure it does not burden the people and at the same safeguard Malaysia's competitiveness, Second Finance Minister Datuk Seri Ahmad Husni Hanadzlah said.
"Our objective is to safeguard the interest of the people," he said when asked to comment on the concerns over the GST proposal.
On Monday, Prime Minister Datuk Seri Najib Tun Razak announced that the GST bill would be tabled for first reading at the end of the current sitting of the Dewan Rakyat.
Ahmad Husni had said that the government plan to set the GST at four percent.
Speaking to reporters after attending the Gopeng Umno Aidiladha sacrificial ceremony here, Ahmad Husni said the study had taken note of the GSTs implemented in 143 countries.
In Asean, he said, apart from Malaysia, only Brunei and Myanmar had yet to implement the GST. The government expects its revenue to increase by RM1bil a year upon the implementation of the GST to replace the sales and services tax.
The GST is expected to be enforced in 18 months after the second reading in March next year.
In a related development, Ahmad Husni said the Dubai financial crisis would not affect Malaysia as the country's investment there was more towards re-exports involving gulf nations.
Meanwhile Ahmad Husni, who is Tambun MP, said a total of RM1.7mil had been approved for the Ipoh City Council to build a bridge in Kampung Manjoi for flood mitigation purposes.
He said the council would also spend RM300,000 to upgrade the Manjoi market and RM700,000 to expand two surau in the village. - Bernama
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