Puchong: Two years ago today, Malaysia joined more than 160 countries with GST. The move was greeted by so much whining, griping and bitching by some quarters that I suggested that they seriously consider migrating to any of the 40 countries that were still GST-free [40 countries you can migrate to if you wish to avoid Malaysia’s new tax – 1 April 2015].
As far as I know, nobody has done so.
In the meantime, the Government has collected some RM40 billion of GST during the first year alone, which is partly why our economic is doing relatively well, and also why the noise level against the GST has gone down a lot. The rate has remained 6%, one of the lowest in the world (go here for worldwide GST rates: only a handful of countries have lower GST than Malaysia’s while most European countries have a GST of over 20%). The number of countries without GST is also shrinking very quickly, with Saudi Arabia and India set to join us.
In conclusion, expect GST to be largely missing from the Opposition’s manifesto for the coming General Election.