National Conference on GST: ROADMAP TO MALAYSIA NEW INDIRECT TAX

Thursday 11 February 2010

National Conference on GST: ROADMAP TO MALAYSIA'S NEW INDIRECT TAX
Understanding the Compliance Requirement and Implementation of Goods and Services Tax (GST) in Malaysia

International Monetary Fund (IMF) and the World Bank have long pointed to Malaysia's narrow tax base economy as unviable. Over 140 nations have adopted some form of GST. Prime Minister, Datuk Seri Najib Razak has tabled the first reading of GST
at the 2010 budget.

GST is inaugurated as constituent of a larger tax reforming exercise to empower and equip Malaysia to shift its dependence from direct to indirect taxes. Contrarily, GST also endow our nation to substantiate a lower levied income-tax rate. GST was sculptured based on consumption and not on income.

However, critics' appraisal with reviewed evaluation has signalized that GST disproportionately elevates taxes on the middle-and-low income social group.
This conference was engineered to choreograph an assembly lay-out of experts and professionals of the highest order in the archive of government pinnacles and titans of the business regimes. The conference will gaze at problems and theoretical options and potential impacts as well as detailing the practical aspects of implementing the new tax structure and its compliances in Malaysia. It will cultivate concepts and incubate ideas on issues that conceal knowledge in a stimulating debate.