- Personal Finance
GST''s Effects On Malaysia
Goods and Services Tax. Merchants will need to charge the customers an additional 6% for each of their purchases. The amount they will charge will be the tax they will pay to the government. Most items must be charged GST. The government claims by launching this new tax system, prices will be reduced in the future. But after Malaysia's last election, who could believe the government now.
Malaysia is in a tragic state. Prices of everyday items are already high, now they are charging tax. Malaysians have already started a community which is against GST. It has only been three days since GST has been launched and there has been lots of commotion already. I heard that two million Ringgit was collected from GST in just one day. It isn't fun for merchants. Your distributor will charge you GST and you can't charge your customer GST unless you have registered for GST. Despite this, many merchants are either charging more that 6% or are not registered.
How Could You Help ?
If you could sign this petition, it will be very helpful. Signing this petition will help many Malaysians. https://www.change.org/p/malaysian-government-lift-gst . Thank you for your support.