Lee Heng Guie(pic): According to the International Monetary Fund, more than 160 countries have VAT/GST in place as of last year.
THE current worldwide trend is shifting from direct tax to indirect tax by decreasing direct tax rates and increasing value-added tax (VAT) as well as goods and services tax (GST) rates.
According to the International Monetary Fund, more than 160 countries have VAT/GST in place as of last year.
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