ID :
66029
Tue, 06/16/2009 - 16:06
Auther :
Shortlink :
https://oananews.org//node/66029
The shortlink copeid
GOVT HAS NO PLANS TO IMPLEMENT GST
Recast with correction on name of minister in first paragraph
KUALA LUMPUR, June 16 (Bernama) -- The government has no plans to implement
the goods and services tax (GST) system in the near future although it is facing
a reduction in tax collection due to the global economic crisis, said Second
Finance Minister Ahmad Husni Mohamad Hanadzlah.
"We do not want to burden the rakyat with any more payment than necessary.
So at this stage, we are still studying and have no plans to implement it as we
are not prepared," he told reporters after launching the Malaysian Tax
Conference 2009 here Tuesday.
He said the government has yet to fix any deadline as suited for the
implementation of GST having taken into consideration the people's interest.
The GST, which was originally scheduled for implementation in 2007, is aimed
at diversifying the sources of revenue for the country. The country's major
revenue now comes from the sales of petroleum.
On the new economic model for the country, Ahmad Husni said the model will
cover all sectors of economy and at the same time give special attention to
developing the niche market for all the sectors.
"We want to create a niche market for our products."
For example, in the services sector, there needs to be an identification of
the niche market for the country's products, he said.
"We need to know our niche market....and how many niche markets?" he said.
In the manufacturing sector, the government is looking into several high
quality investments which are based on innovation, creativity and value-added
economy, he said.
Asked on when the new economic model will be ready, Ahmad Husni said it
would depend on the economic specialists in the National Economic Advisory
Council (MPEN) which has been given the task to formulate the model.
"At this juncture, I do not know about the timeline for that but we would
want to see it as soon as possible," he added.
The MPEN, which is led by former minister in the Prime Minister's
Department, Tan Sri Amirsham Aziz, who is the Chairman, will advise the
government on the new economic model.
MPEN will work closely with the Economic Planning Unit in several specific
issues related to micro economy and a development plan.
The new model is aimed at lifting Malaysia from being an average income
earner to high income earner.
-- BERNAMA
KUALA LUMPUR, June 16 (Bernama) -- The government has no plans to implement
the goods and services tax (GST) system in the near future although it is facing
a reduction in tax collection due to the global economic crisis, said Second
Finance Minister Ahmad Husni Mohamad Hanadzlah.
"We do not want to burden the rakyat with any more payment than necessary.
So at this stage, we are still studying and have no plans to implement it as we
are not prepared," he told reporters after launching the Malaysian Tax
Conference 2009 here Tuesday.
He said the government has yet to fix any deadline as suited for the
implementation of GST having taken into consideration the people's interest.
The GST, which was originally scheduled for implementation in 2007, is aimed
at diversifying the sources of revenue for the country. The country's major
revenue now comes from the sales of petroleum.
On the new economic model for the country, Ahmad Husni said the model will
cover all sectors of economy and at the same time give special attention to
developing the niche market for all the sectors.
"We want to create a niche market for our products."
For example, in the services sector, there needs to be an identification of
the niche market for the country's products, he said.
"We need to know our niche market....and how many niche markets?" he said.
In the manufacturing sector, the government is looking into several high
quality investments which are based on innovation, creativity and value-added
economy, he said.
Asked on when the new economic model will be ready, Ahmad Husni said it
would depend on the economic specialists in the National Economic Advisory
Council (MPEN) which has been given the task to formulate the model.
"At this juncture, I do not know about the timeline for that but we would
want to see it as soon as possible," he added.
The MPEN, which is led by former minister in the Prime Minister's
Department, Tan Sri Amirsham Aziz, who is the Chairman, will advise the
government on the new economic model.
MPEN will work closely with the Economic Planning Unit in several specific
issues related to micro economy and a development plan.
The new model is aimed at lifting Malaysia from being an average income
earner to high income earner.
-- BERNAMA
