THE government is unlikely to reintroduce the Goods and Services Tax (GST) in light of the slowing world economy. GST is seen to be a regressive tax t...
government is unlikely to reintroduce the Goods and Services Tax in light of the slowing world economy. GST is seen to be a regressive tax that will burden lower income groups.
Why don’t we think out of the box and look at ways of increasing the tax collection and removing some of the headaches faced by the business community in complying with the Sales and Service Tax mechanism? You can kill two birds with one stone. Another example is where trading companies buy goods from registered manufacturers and export such goods, the transaction has to be conducted within six months of the purchase. Similarly, many exemptions enjoyed by manufacturers require meeting various conditions. This is cumbersome as they need to keep track of the transactions.
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