The implementation of the Goods and Services Tax (GST) in Malaysia is being hotly debated as a means to lighten the financial burden of the government. It is important that we look at the implementation of GST in other regions and countries. Through this article, we will see that GST has been widely implemented throughout the world and contributes to a significant percentage of GDP and tax revenue in some countries.
Value Added Tax (VAT) or GST is now the most common type of consumption tax system implemented worldwide. According to a report by PwC, 145 out of 183 economies use a VAT system.
To read the rest of the article and to access our e-Archive, subscribe to us for
RM150 a year.
Subscribe Sign in