A Goods and Services Tax (GST) will be implemented in Malaysia soon. Basically, this consumption tax is imposed on consumers’ goods and services. However, for a business owner they also need to think carefully as they need to apply it to their business. If they fail to do that, then they may suffer the loss of the credit for input taxes.
Apparently, this GST will affect not only accounting, finance, or tax personnel, but it will affect all levels of staff also, including those from sales, operations, and even human resource.
My Opinions on GST Malaysia 2011