Goods and Services Tax

QUESTION 4 : GOODS AND SERVICES TAX (GST) There were legion(predicate) responses when the Malaysian government first announced the Financial figure for Malaysia, year 2010, both good and bad. But when they were undecided nearly GST, it sparked more conversation on whether itll benefit the Rakyat, or encourage threaten vileer communities in Malaysia. As proposed by our dear government, GST covers all(prenominal) types of goods & adenylic acid; services sold to Malaysian & non-Malaysian residents (therefore consumers) yet for a common commodities such as rice, flour & sugar. This goes to mean: Whenever you walk into your favourite hypermarket with the family to get some groceries in the future, you leave behind be charged additional ~% (the proposed additional 4%) on top of your bill except for certain controlled items. Further, Malaysias principal(prenominal) revenue shouldnt just live off petroleum. In new(prenominal) words, we shouldnt put all eggs in one wicket because petroleum revenues have risks of its own, seeing that its a natural resource. What evidence did they give? More funds for development and expenses. How a good deal would they likely get? RM1 billion (RM1,000,000,000) per annum in estimated rounded-up revenue. Will it hurt the poor & middle class? To a certain extent, it will somehow affect pockets of middle and set down income group Malaysians.

The arguments: 1. fresh price hike in petrol, prices of commodities have increased drastically. And at present another one called GST? 2. Income tax brackets for high earners arent as expensive as middle-to-low income groups. 3. The Malaysian government has saved approximately RM2 billion (RM2,000,000,000) by lowering fuel subsidies - Whats the take on GST now for lower income groups? 4. GST is tax on SPENDING. Basically, everything from parking fees to purchasing mattress. Even with GST-exempted items, this would appease hit lower income groups in Malaysia. 5. Private sectors arent paying much to Malaysians - Other more developed... If you want to get a encompassing essay, order it on our website: Ordercustompaper.com

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