Image credit: The StarThe Star
reports that the implementation of Goods and Services Tax (GST) will be a fairer taxing system as it includes everybody from foreign labourer to tourists. The Culture and Tourism Ministry recorded a total of 25.72mil tourists spending RM65bil in 2013 which were not taxed according to the existing tax system.
Once the GST is implemented, all of them will be taxed, said Wanita MCA chief Datuk Heng Seai Kie. The expected revenue for 2014 is RM125bil, but once the GST is implemented, the projected income will increase by RM8.5bil to RM133.5bil.Souce: 'Tax covers foreigners as well', The Star 11 Dec 2014