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GST goods - good enough?

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The government today unveiled the list of items that are zero-rated and exempted from the Goods and Services Tax (GST), that will come into effect on Apr 1, 2015.

There were more than 900 goods and services in the zero-rated list.

Prime Minister Datuk Seri Najib Tun Razak announced the categories of items that would be GST-exempt during his Budget 2015 speech last Friday.

In his speech, he said GST would not be imposed on essential services, such as transport, education, healthcare and finance.

RON95 petrol, diesel, liquefied petroleum gas are on the zero-rated list. Other GST-free items include imported and local fruits, bread, coffee, tea and cocoa powder, noodles, medicines as well as reading materials.

Check the list

And as usual, PKR slams the government.

Its vice-president and secretary-general Rafizi Ramli chided Najib Razak suggesting that the introduction of Capital Gains Tax (CGT) in Malaysia could undermine the country’s capital market and its stock exchange.

In a joint statement with PKR’s Commerce and Industries Bureau chief Wong Chen today, Rafizi said that Najib’s suggestion was an attempt to confuse the people with the hope they did not have a firm grip on the subject of taxation and would easily believe him.

A-ah.... two budgets, two tax regimes.

Better study the list first before making further comments.
 
By the way, how much do Malaysians, especially in the rural areas, understand what GST is all about? The explanation by the 'government agents' thus far is still not sufficient.
 

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