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WHAT IS GST? GST is a consumption tax levied on goods and services at all levels of business. The consumer is taxed only when they spend. GST will replace the Sales and Service Tax (SST). It is aimed to streamline the country’s tax system to be more effective, efficient, transparent and business friendly. GST was first implemented in France as early as 1950s. Today, more than 160 countries have implemented GST. Malaysia, Myanmar & Brunei are the only remaining countries in the ASEAN region which have not implemented GST. WHY IS GST BEING INTRODUCED? It is better and fairer tax system compared to SST. The following are some of the benefits of GST:

BAJET 2014 IMPAK DAN FAEDAH “MEMPERTEGUH KETAHANAN EKONOMI,  MEMPERKASA TRANSFORMASI DAN MELAKSANA JANJI” “Segalanya kita rangka, semuanya kita susun, kita piagam dan kita laksanakan bukan sekadar sonata, atau sebuah orkestra, namun ia menjadi puluhan simfoni kemajuan yang terindah demi kesejahteraan hidup seluruh rakyat Malaysia yang dikasihi” Dato’ Sri Mohd Najib Tun Abdul Razak Perdana Menteri Malaysia