| Conquering the GST fear Posted: 25 Oct 2013 04:57 AM PDT Budget 2014 ushers in GST - by The Mole  | | Najib |
Salute to the Prime Minister for boldy pushing ahead with the GST - effective 1 April 2015 and lowest in Asean at 6% ( see table) and one of the lowest in the world (Canada and Taiwan 5%) - despite threats of massive protests by the Opposition.
Most impressive is the "offset package" (reduced personal and corporate income tax, exemption for some 300,000 low-income tax payers, list of goods and services exempted) that will accompany the implementation of the GST. I think it was very well thought of.
But it was his simple explanation of why Malaysia must implement the GST, why this is the best time to do so and why 160 countries (that have implemented GST, including nearly all the developed economies) can't be wrong, that, to me, totally destroyed the Opposition's fear mongering about the GST.
Now, who was it that said GST was regressive? Mana sekolah pergi?
 | | Malaysia's GST lowest in Asean. Source: MoF |
Other countries with GST:  |
| The tough-gets-going Budget Posted: 25 Oct 2013 04:24 AM PDT Click on video and read:Expect to see a tougher side of Najib Razak, PM and Minister of Finance, when he tables the 2014 Budget this afternoon. Which won't be a bad thing, if you ask me.
For example, I hear that he's going to stress on what insiders are calling "disciplined spending". Prompted by the revelations made year after year by the Auditor-General, on how some departments have blundered, Najib wants to go after authorities guilty of wasting public funds. "He's going to make a very clear commitment on that this afternoon," I heard one insider say.
It will also be about toughening up the domestic economy without burdening the poor. One of Najib's main concerns is the seemingly never-ending economic and financial crisis around the world - from the US subprime crisis to the Euro debt crisis - and how the local economy continues to get banged up each time that happens. The 2014 Budget's strategy is to help toughen up the local economy to better absorb the impact of the next crisis. "It's not a question of IF, it's WHEN the next crisis will happen," the insider said.
Toughening up means further subsidy rationalization. Rest assured that the 2014 Budget will still contain a lot of subsidies for the rakyat. Malaysians are a heavily-subsidized lot who are slowly coming to terms with the fact that subsidies can't go on forever but that can't be done overnight. Hence the GST, which will enable Malaysians to start paying for what they consume. The insider won't give anything away on GST. I get the impression - and I hope I'm wrong - that the GST might even be taken off the 2014 Budget!
Anwar Ibrahim & Co are lining up protests against the GST not really because the GST is "regressive" but because, like Lynas, it is a politically-viable subject matter. I mean, how can it be t hat when only Malaysia, Myanmar and Brunei have not implemented GST in Asean while some 160 and nearly ALL the developed countries have also adopted it, right?
It's them testing Najib Razak's will to see just how tough he is ...
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| BFM 89.9 probed for "Allah" interview Posted: 24 Oct 2013 10:54 AM PDT Sharil Tarmizi, the MCMC boss, has been declining the media's request for comments on BFM's interview with Reza Aslan. For a while I thought he was going to close one eye on the fact that the radio station had blatantly flouted agreed SOP for broadcast stations in this country. Looks like I owe him an apology for having such thoughts ...
Based on Ezra Zaid's twitter, clearly Sharil and the MCMC have not been idle. Ezra was one of the dudes who interviewed the award-winning, Jesus-follower Reza Aslan on the Allah issue.
The BFM is being probed for this flouting this ...
Go, MCMC! Without fear or favor.  |
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