Integrated Sistem Pemantauan Aduan Agensi Awam
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FAQs By Division Good & Services Tax (GST) Is it true that GST will generate an additional revenue of RM 1.0 billion compared with the existing sales tax and service tax?
FAQs By Division Good & Services Tax (GST) Is it true that GST will generate an additional revenue of RM 1.0 billion compared with the existing sales tax and service tax?
| Is it true that GST will generate an additional revenue of RM 1.0 billion compared with the existing sales tax and service tax? |
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The main aim of the government in introducing the GST is to make the tax system more effective, efficient, transparent and business friendly. Basically, the imposition of the GST at the rate of 4% will not bring about increase in revenue of RM1.0 billion. The increase in revenue will be realized by having an effective and efficient GST system where there is increase in tax compliance and the resurfacing of businesses from the informal sector. Apart from this, the government will also institute various fiscal measures to increase the national revenue. |
