GST & YOU

GST & YOU

(Extract from The Sun)

 
GST: A misunderstood tax?
GST (Good and Services Tax) is one of the most misunderstood taxes in the current economic climate. The continual deferrment of GST has caused ripples, leaving tax payers wondering whether the tax will ever be implemented. Today, we carry the first of four articles on different aspects of GST, outlining the tax and its implications for the man-in-the-street.
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What a consumer should know
How would GST impact the “man on the street”? Will prices skyrocket, after the introduction of GST? These are some of the questions on the “rakyat’s minds”. As outlined in our first article, we need to understand how the tax works in order to determine what the impact would be on ourselves. This article will take the form of answers to commonly asked questions by consumers.
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GST: What a business owner should know
What do business owners need to know about GST? How do we prepare ourselves as part of the supply chain? The first two articles outlined how GST works as well as what consumers should be aware of. In this article, we will outline how businesses can get themselves ready for the GST environment. This article will take the form of answers to commonly asked questions by business owners.
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What you need to do
GST is coming and will be here to stay. As the rakyat waits with bated breath, we hope that the series of articles has helped to clear some misconceptions about this tax. In order to decide what we need to do to get ready for the GST environment, an understanding of the GST mechanism is required. This assists with the preparations. This final article in our four-part series takes the form of answers to commonly asked questions on GST administration.
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