Saturday, October 23, 2010

Malaysian GST Implementation Postponed

The finance ministry announced on Wednesday, 13th October 2010, that the implementation of Goods and Services Tax (GST) has been deferred.
GST was initially mentioned in the 2005 budget and had its first parliamentary reading in December 2009, with the second originally scheduled for March 2010.
GST is a tax on consumption and is meant to replace the existing sales tax and service tax.

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