Malaysian Goods and Service TaxAfter GE13, a lot of people start complaining about Goods and Service Tax (GST) that will be applied to most of supermarket and others businesses. Paying a tax is the most important part of our daily life, from door tax to road tax, all of these we have to pay to our government. Unless we got fined by them.
No doubt, government spending depends on the amount of tax revenue collected. Tax revenue is a major contributor to total revenue.
If the tax revenues increased, the government can implement various projects to drive economic growth. When total revenue is insufficient, the financial position of the government will be in deficit.
That was a brief explanation about how important tax to government. But, is Malaysian government doing the right thing to our paid tax especially this GST?
From my understanding after reading a few blog posts and articles, this GST will burden to those who earn small salary. Because we have to pay an extra amount for every goods and services. One more thing, people said that GST will be use as extra money to government to pay the promised BR1M.
Are you all happy with GST?