The Ugly Truth About Malaysia’s Tax System
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- Опубликовано: 5 авг 2024
- We used to have GST, and now SST, have you ever wondered which one cost us more? 🔴 𝗦𝘁𝗮𝗿𝘁 𝗜𝗻𝘃𝗲𝘀𝘁𝗶𝗻𝗴 𝘄𝗶𝘁𝗵 𝗜𝗕𝗞𝗥 ➡️ www.interactivebrokers.com/mk...
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⬇️ Timestamps:
0:00 → Intro
0:27 → Understanding GST and SST
3:00 → From GST to SST
5:19 → GST vs SST - Which is Better?
9:03 → Which system suits Malaysia the best?
11:43 → Conclusion
We all hate tax. Of course we do, it makes everything you buy more expensive, but all said and done, tax is just as unavoidable as death.
Tax collected in Malaysia used to be called GST, but now it's called SST. So, what's the deal with SST? Is it really needed for Malaysia's economy, or is it just a way for politicians to use it for their own benefit, or even a sneaky way to take more money from us?
First, let's break down what GST and SST are and how they are different. GST added a 6% tax on most things being sold, from the making of the product all the way to when we buy it. This meant almost everything got a bit more expensive for us, the buyers. But, the businesses could get some of this tax rebate, so it was supposed to not hit them too hard.
Then, in 2018, Malaysia switched to using SST, which is supposed to be a simpler tax structure. It's only added one time when the product is made, and the rate can be 5% to 10%, depending on what the product is. There's also a 6% tax for some services we use. SST claimed to make things cheaper and simpler, but does it really?
Now, there’s talk about maybe bringing GST back to help Malaysia’s economy, especially since we’re making less money from taxes with just SST. GST could help get more money for important things like healthcare and roads.
Watch the video to get the actual apple to apple comparison of which tax system is better!
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GST
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GST better or SST
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Malaysia expensive
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Inflation
Suffer Malaysian
Goods and services tax
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GST is better than sst. I dont know why PH so obsessed about sst. Look at Japan and Singapore. Just try to copy the better one, not create what is sucks and say my way is better. 😅
Agree, it was a huge mistake reverting to SST. Prices did not fall but just kept rising and now with the increase of SST to 8%, we are facing greater increase in prices. The problem is changing to GST now will result in another major increase.
GST Versus SST Versus VAT(vietnam). Better follow Saudi Arabia, Brunei having no consumption tax.
Learning (copy) from a more advance country is nothing to be ashamed of! Take what is good, localize it to fit our needs, whatever it takes to make things work👀👀
@@ZietInvests GST is merely suitable to high income nation. We have B40M40 representing 80% majority population. Vietnam's VAT tax system is worth to explore. VSIP Vietnam model is proven there. Wikipedia. Singapore has a wealth of knowledge & experience to manage Industrial Parks. Research & homework.
It is suitable only for a nation that has a great average income. To be fair, SST on paper is great but the thing is the hidden middle fee by manufacturers. For example, Maker uses Rm5 for a product so they will charge maybe around RM7 for the seller. Seller should've sold it for around RM11 maximum but with SST Seller can make shit tons of reason to make the price higher. Therefore, GST is actually more transparent than SST
Mind-blowing video, now I understand the difference between SST & GST better, and I appreciate your whole team effort in producing such high-quality video.
Thank you Jack! This means a lot for us🥰
This comparison and explanation done by many but many didn't accept it cs it was politically manipulated in multiple ways, even till today the people from currently gov always avoiding to acknowledging it. And it's too late already since we lose our GST system since 2019. We're way too backward compared to other nations in terms taxation system cs we're loosing more and more revenues.
@@ZietInvests
When Najib is PM, his govt received oil and gas dividend RM300 billion ( over 5 years). Why he still need to impose 6% GST to collect more tax ? Is the RM300 billion free money not enough to pay for all govt expenses ?
I think should start GST of 3% and only for those with sales of above RM2 million.
Thank you for great topic:
You asked why? Senang la. Malu la PH nak tegakkan benda Bossku buat. Simple. Dah dapat 44 bil GST, nak balik ke SST...like half gomen revenue. SME already bought the equipment for GST calculation-guna je la, why waste. UK dah guna VAT lama, we still use archaic and now even more confusing tax system with different rates for different purchases. LVG etc. All sebab malu nak acknowledge Bossku buat betul (walaupun banyak lain Bossku buat salah). So finance minister that time decide to cut public transit spending, cut HSR, cut this cut that. MRT buat plan besar, AC, end up jadi kipas, no link connection. Masa cut seems good idea...yang rugi is actually Malaysians using MRT tu. Now decide nak buat balik connection...at a higher cost....Then ada that manifesto bukan kitab suci nonsense thingy. Selective dropping what you want to implement.
I guess staunch supporters are going to fire me non-stop now.
Masa buat GST-Ahamd Maslan was the joker. Now look who is laughing now.
If gomen don't fix their finances quickly, I don't want to think a time will come that Thai Bhat or Indonesia Rupiah more valuable than RM.
Taxation should not be used as a means to gain political advantage of whichever party. Hopefully one day tax revenue will be used only for the benefit of the people 👀👀
@@ZietInvests but sadly it's already become a political propaganda for so long. Sad and very sad.
Nasi dah jadi bubur. Kita sedang melalui fasa kifarah sebb kufur nikmat dan percaya PHitnah. Ekonomi pun makin slow 3.7% je. Pathetic.
@@ZietInvestsyes but that was the first thing they did when they got into power. I am one of the few who say GST was good zaman najib since experiencing VAT.
Yang kelakar now still tak nak buat GST. Even when some rakyat seems to now agree that GST is superior compared to all different types of tax rates.
Inflation is indirect taxation. So unwillingly the gomen is taxing everyone in Malaysia. Might as well park assets in non-RM assets as anything in RM, no matter how good will just devalue. 2 year US notes is way better than our ASB value despite higher % in ASB.
You are too stupid.
Msia govt receive RM30B - 50Billion dividend from oil and gas profit every year. Why still not enough ?
When Najib is PM, oil and gas income is RM280 billion received in total. What happen to all these billions ? Sakau by Jibi is it ?
Nice comparison. Hardworking as ever for posting video during CNY week. I think the current government is afraid of losing face and too scare to reimplement GST as they had injected so much of hatred into it. Plus the communication between the government and us citizen is so bad that we had lost faith in their policy.
Thank you wei yuen - we've not missed a single week upload since the start of this channel hehe!
And re your point, unfortunately...any U-turn will backfire very very hard :x
@@ZietInvests Yeah. Totally agree.
I hope this video brought you some enlightenment on this highly complicated, sensitive, and politicised topic. Do let me know what you think after watching this video⬇️
Appreciate your efforts and very professional of illustration video. I spoke this out years ago before the reverting to SST but nobody was seemed interested in it. I hope this now will widely bring awareness to the public.
awesome video bro..appreciate it
@@timmychew6164 thank you, that's my sole intention too!
@@poovaneswaransupramaniam19 thank you so much brother!
Bravo. Thanks bro. Will share this in FB.
Thank you brother!!🙏🏻🙏🏻
Always been preaching this....GST is always better due to the TRANSPARENCY! SST is full of opaqueness. Nevertheless, GST should have been charged at 2% or 3%, since it would have been an acceptable psychological level.
Thank you, though for this video, Ziet! Doing a GOOD job!
Honest n useful infos .thanks
Thank you so much for your nice comment - this is all we work for!😊
we have so much expenditure on corruption, expenses to maintain a status quo, which result in ordinary ppl pay in last 20 years hardly increased.
this a stark difference on taxing the already troubled low income group creeping into the mid income group.
another example zakat in tax system. how does that benefit the country? the government? the biggest employer in malaysia is our civil service. whats the amount deducted in favor for zakat?
GST - Lebih Telus
SST - Kurang Telus
Dulu Kata GST Tak Bagus, Bila Sudah Jadi Kerajaan Sanggup Tak Nak Buat GST Disebabkan Ego, Jika Sayang Malaysia Dah Lama Laksanakan Balik GST.
No wonder the cost of living so expensive, in the beginning I thought because of ringgit value dropped, because of this SST tax also. I think the government should focus how to generate income from another way, not to tax Malaysians. People now can't afford to buy food and government still do SST. Government should do something like how Singapore and Switzerland do and also Australia. These countries very smart compare to Malaysian government.
Exactly! But then there will always be the argument: why should we copy developed nations when we are still “developing”?🤦🏻♂️
Bring VSIP Vietnam model to provide job opportunities to local population. Explore VAT tax system in vietnam. Wikipedia.
@Kangotre GST is suitable to high income nation. In Malaysia we have B40M40 representing the majority 80% population. Think of thier well being. GST Is basically intensive (taxing A to Z).
@@chuageokseng2168 Give out GST relieve voucher to lower income household. Subsidies to healthcare and transport concessions etc. Lower Gov tax collection means lower subsidies for lower income group
@Kangotre Can you name 1 economics graduate(s) working in MEA ministry to manage the economy & deal with the issue of sluggish economy( < 4% GDP 2023).
❤❤❤❤ I really love your video. GST aka VAT had been introduced in practically all the more advanced countries. I could remember when I was in the UK about 45 years ago, this VAT was introduced. Since then more than 160 countries have used the GST tax system.
But just because of politics, Malaysia's GST was replaced by the far more inefficient SST.
This inefficient SST has resulted in rampant tax evasion and is one of the reasons why the Ringgit is so weak.
Boss Ku introduced the GST as he realised that it is good for the country but unwittingly it is one of the main reason why he lost his job.
This shows that in politics, it never pays to be honest and to do things that is good for your country but which may be bad for your popularity.
Politics is derived from 2 words...POLY meaning MANY and TICKS which are BLOOD SUCKING creatures !😂😂😅😅
Thanks for the love🥰!
You're spot on - GST is pretty standard in many countries, and it's designed to be more efficient. NGL it's a tough pill to swallow when politics gets in the way of what might be better for the economy, and we've seen the effects of that with the MYR's performance.
Always appreciate a good discussion, but thank you once again!
For GST, there will be tax at every stage of the production line down to the consumer, and then pretty much just the final number will be paid by the consumer, sure it will look like there is a higher tax revenue.
But, due to the tax being rebate-able at every step except the consumer stage, wouldn't most of the money be rebated to the companies anyway, meaning the cost due to rebates be huge to the government?
Sure
This is a very well done and well researched video team Ziet. Now I understand better why there's so many new taxes introduced on top of increasing SST.
Hehe always glad to see your nice comment brother
Rakyat wants affordable goods. The prices of daily needs are much more than before GST implementation, and even worse now with SST. A cup of tea tarik is now between RM1.40 to RM2.00. Can prices of things be brought back to pre GST? Dutch Lady 1 litre full cream milk, pre-GST RM5.00, GST RM5.50, SST more than GST price.
Bigger tax also means government need to proactively and more open to invite citizens participating in budgeting process, such as doing roadshows in residential areas and workplaces to allow such participation. Currently, it's more of tick the box process
I think you missed a key point. It is not only the tax collection, but the net tax collection. GST collects more, but the cost to customs office and business is humongous. Therefore, simply chanting GST without understanding the detailed impact is worthless. We shouldn’t be pro GST nor pro SST, but take a proactive stance and assess tax regimes based on current socio-economic condition. Have a look at ong kian ming or rafizi ramli podcast to understand more from people with subject matter expertise.
No.. GST requires an macro-economist expert and an expert statistician actuarial science, not a micro-economist or finance people. I rather believed in people who won nobel prices like the work of John Maynard Keynes rather then this Rafizi. There is a reason why the world adopt GST/VAT. It is a Keynesian Model (John Maynard Keynes). GST/VAT are not just tax collection, it is beyond that, GST are the one of the most powerful Fiscal tool (besides monetary policy/OPR) that the government can use to (engineer) the aggregate demand of an economy. The benefit of engineering the output and aggregate demand of an economy far outweigh the cost of GST incur.
Rafizi is a joke. The guy knows nothing about stabilizing the economy.
Instead being a pro GST or pro SST, my job here is to open a discussion, and hopefully everyone here can discuss based on factual evidence, even better if some of us can give constructive suggestion of how we may improve!
@ 6.33 , In an ideal world, that may be the case, but we all know that the world is but ideal. The savings will never be passed on back to the consumer becaue 1. Greed as this means more profit for the supplier after he claims back the taxes (but practically speaking) 2. There is no gurentee that the taxes can be claimed back as you rightly said the process to do so is cumbersome and complex, so if I was a supplier, I would charge the GST and keep it as a hedge for the future incase I cannot claim back for whatever reasons. So all in all I think the chances of the GST returning to the consumer is very very slim or next to none. Either way the Rakyat ends up holding the bag, as there is no way for the rakyat to recover / reclaim the GST / SST. just my opinion as a layman..... GREAT video and info by the way, Thank You, I now have a better understanding.
You are correct about the behaviour of people! We cannot expect people to be altruistic in business world, the only thing we can do is to keep improving the system, design it in a way that is impossible to not follow the rules. We might be far away from that, but if we don't start discussing we'll go no where close to actual good. 👀
@@ZietInvests
Msia govt receive RM30B - 50Billion dividend from oil and gas profit every year. Why still not enough ?
When Najib is PM, oil and gas income is RM280 billion received in total. What happen to all these billions ? Sakau by Jibi is it ?
Even the dividend received by Petrona, govt still never spend wisely to build more public clinics, improve roads, subside electricity bills etc.
Why collect more tax when the increased tax revenue is not efficiently used to improve public services ?
GST is fundamentally superior to SST but 8:22 claiming GST will make Malaysian exports more competitive is very misleading. And why did you choose to ignoring the regressive nature of GST, which was one of the main reasons why is was abolished?
So now, when the government implements a new tax or increases SST down the road
It'll only further strengthen the reason why GST was a better choice in the first place. It generates more money!
SST is having a hard time catching up hence why all these new taxes popping up.
I owned a local factory that produces consumer goods. When we switch to gst, our business became better, the switch back to sst impacted our business a lot, I even know some people that completely gave up local market (funny cos our goods are made in malaysia and we can only compete in foreign country). Reason for this is our actual competitors are China products, especially those that evade taxes, and mind you there are entire supply chain that helps importers evade tax. I lot of the business owners i know that runs a factory and hopes to capture the local market wanted gst to come back, and that's just for leveling the playing ground. We are not scared of competition, but we shouldn't be competing with people that aren't even following the rules, it's just dumb.
I've added your channel to my 'Watch Later' playlist!
😄
@@ZietInvests Pse do a video on why Malaysian companies pays their workers poorly. Boss make millions and pay workers minimum wages that cannot make ends meet
6:12 Problem is business owner give back tax rebate or just pass on to the consumer? Overall, from what u share, SST still cheaper than GST.
Regarding politicians, they can be trusted no matter which side running the government. #kitajagakita
The amount of tax revenue the government collects is definitely important, BUT more importantly is how the government uses / utilize the tax collected is paramount.
You can be earning a T20 salary and still be very poor.
Absolutely! It's important stat we Malaysians stay informed and vigilant about how their tax money is being spent. Is it for good? Is it just pouring money into the drain?
Nice explanation. However, the ultimate question comes down to this, how will GST affect the regular consumer, aka B40 and M40? Will cost of living be cheaper? I see every debate about GST vs SST is always from business POV, what about consumer POV? TBH, people are more concern about putting food on the table than what GST refunds, pros and cons etc..
Absolutely, point taken! For the everyday rakyat, GST might mix things up a bit - it has the potential to reduce some costs (fingers crossed businesses share the savings with us).
But, it could also hike prices if companies aren't generous👀
No GST would NOT increase in prices good and services... it would have an opposite effect... it would IN FACT reduces the prices.. since GST is a broad tax type.. GST would be able to control (engineer) spending habits of Consumers, Households, and Firms.. thus controlling the Aggregate Demand of the economy.. if government wanted to have price stability they could just just raise it in order to lowers Aggregate Demand thus lowers the prices good and services at the cost of business and firms.. if in recession they could just lowers GST in order to increase the aggregate demand to spark business activity and revenue.. but the effect will be inflation (high demand = higher prices).. this is not my theory.. it is called Keynessian Model, john Maynard keynes nobel price winner, father of modern economics. Keynessian model were economics taught is universities, well known and well respected. international investors big firm aspect world government RELIGIOUSLY to follow this keynessian model not classical model.. big advantage if u want to attract international investor.. if u wanna learned it, you can learn about Contractionary/Expansionary Monetary and Contractionary/Expansionary Fiscal policies how does it effects inflation and the economy..
Already showed in the video.
did u even watch the video on how business can claim input tax and hence the impact on goods prices is lower than those of SST? or u still believe PH stupid narrative?
@@zarith87 You are totally wrong.
GST does not necessarily reduce prices.
Look at Spore. There is significant inflation of price since GST implemented.
GST is never a good tools to control inflation.
The tension is always during the increase in numbers.
0% -> GST (6%) -> SST (6%) -> SST (8%)
For anyone with less financial literacy, if we introduce again GST at 6% or anything lower, everyone will think it might be good cus it is still less than 8%.
Gst way more efficient than sst,look at singapore,if u rich just pay more,that’s pretty fair
💯
u need to hire s***load of custom officer to check each and every transaction to slowly approve gst refund. Then SME need to hire a s***load of tax compliance officer to manage their tax and which reduces further their already thin margin and tight cashflow. All of that people and effort dedicated to just to help government collect more tax, instead of producing more useful goods and services. All of that money goes to pay off 1MDB debts. Very clever system indeed. The rich already paying more in progressive tax(or z*k*t cough*). There is absolutely no reason why SME should pay more tax!
The Singapore government knows the GST harms the poor more, so the govt gives out the GST vouchers to low-income households to offset the regressive impact of the GST.
@@SoulofCrimson that is the point.. higher GST would cut down spending on mid and high income consumers and firm.. result it lower demand for goods and services.. lower demand = price stability.. higher GST is also will result in cutting the Singapore Dollar money supply M1 in circulation (money in circulation goes back into government account) thus strengthening further the value of singapore dollar, indirectly reduces the cost of firms to import goods and services..
Learn from Vietnam's VAT consumption tax system. Vietnam is middle income country having a population of 100 millions.
I not sure why once GST started, products, foods & beverage to price increase & then make a u-turn back SST. Products, foods & beverage price no decrease. end-up inflation price increase more faster then consumers B40 salary. SST nowadays is not more same previously SST.
If the tax revenue was around 44bil back then, imagine how much malaysia will be collecting right now? Big mistake to abolish the most efficient & systematic gst tax system, we're not only loosing more that 44 billions from exploiting middlemen & black markets but also collecting lesser or even half of tax revenue compared to last time. Our tax revenue is a joke already bcs of some irresponsible politicians and future of malaysia looks dark.
I don’t see the prices coming down
right? :(
Theoreticians, working with pure numbers and theoretical procedures laid down on paper tend to LOVE GST.
I'm not a theoretician, and was right in the thick of implementing GST for my organisation.
GST Malaysia actual , practical implementation was a nightmare, and the added costs were passed on to the consumer.
GST is definitely better but last time it was implemented, people were wondering where the money collected disappeared to. Even Umno members where asking Najib that question.
Can't argue on that!
Yes. Then, rebates were not paid soon enough resulting in plenty of backlog. So who was using that pile?
There 195 countries recognized at UN, among them 175 countries implemented GST. Guess which one better? Malusia is Malu Sia.
I’m a Prof at London School of Economics and Political Science. Ziet want me to teach you what is GST and basic economic?
Appreciate the offer and sorry prof, but I might be the wrong person to take up your offer since I'm not the one deciding on the policies 🤭
@@ZietInvests Well, If you currently in Malaysia then good luck to you. A bad government and its policies is worst than scandal.
But this new MOF knows too with so many good professors giving good advice. Give him chance to do his job. The time will come when we are Malusia no more. Tq for your patience.
Cant imagine if lim guan eng become prime minister
Good video. Just a constructive criticism…you should work on your grammar especially with your tenses.
Thank you for your feedback! Some sentences were intentionally adjusted to be more relatable to Malaysians hehe but I definitely note your comment!
if you understand what he said, grammar error is not an issues
Agreed that. But In malaysia many small business groups cannot claim their 6% tax specially small groups of business ect. Selling nasi lemak, most of them if not paying in come tax. How they claim the 6% tax?
2nd, the transparency of GST going is very important, who can explain it in detail? How GST can help malaysia to grow? Don't forget before GST witch group of people paying tax? There's many unfair reasons stuck between this, ect. Some group people never pay tax at all but they still can buy house and car.
Only solve this unfair issue than only can go back GST. If gov. can find out who is the one not paying tax and they can purchase house or car.
3th are many business people who have owned shop lot than start the business, and some people start the business at road side and both of them also can do the same business. Ect 2 if you rent a shop lot at shopping mall, and there's other people just rent a walk way side and selling same things that cheaper than you. What will u do? I can say that No one can help you on this. (The solving way is don't let them selling there everyday in the same place, just like pasar malam.)
This is the unfair reasons. Gov. need a "keys" to open the door to solve it.
In short GST only good for tauke because they somehow can claim some money back but for those workers they are the victims, nothing they can claim back but keep on paying GST everyday. That's is the reason why businessman all praising GST while workers are hate of it. Yes GST is very effective because it make everyone pay including those hardly earn enough to support their family.
No balls for Harapan and will get laugh if they reintroduce
🫣
ALTHOUGH GST LOOK BETTER ON PAPER BUT SST IS STILL MY CHOICE... I CAN'T STAND IT EVERYTIME I PAY FOR SOMETHING, I GET TAXED GST 6% DURING GST DAYS... EVEN TO MAMAK RESTAURANT FOR TEH TARIK KENA TAX.... ON TOP OF THAT STILL HAVE TO PAY INCOME TAX EVERY YEAR... FEELS LIKE PEOPLE GET DOUBLE TAXED....
Follow Brunei there is no consumption tax(GST, SST, VAT). Sabah Sarawak can too.
In the end, consumers tanggung semua 😂
Ops 👀
I hope the gamen doesnt tax gold and silver bars which Malaysians buy to escape inflation...is fiat money inflation ruled as halalke....even asb and asm dividen ciput versus inflation (consider mee goreng mamak price)
GST or SST is never good for the consumers. It is even worst for old and jobless who have no income also being taxed.
Fair enough, but taxes are part of the economy to support the nation’s infra.
With depreciating ringgit, planned removal of subsidies, stagnant wages, high interest rate and only recently lowering inflation, now is a very bad time to implement GST, eventually, it would be a good move to implement GST, but now is a very bad time as inflation would skyrocket, and GST minimum is 6% as there is cost needed to run GST, any rate lowet would be pointless, as the cost to run GST would exceed the revenue collected, and accountants would be the happiest if the day ever comes
I somehow agree but to a certain extent. Yes there will be an “eventual better time” to implement the more competent structure, but until then the FDI will be limited and that will further delay the “better day” to arrive - until which god knows how many government change it will take before it even happens
@@ZietInvests the day might come, but might take longer as there's the political fallout on whoever implements the GST, unlikely the current gov will implement before next GE, but I do hope the abolishment of civil servant pensions gets passed, if it's does there will also be political fallout, but at least future gov can't use civil servant as vote banks anymore
No GST would NOT increase in prices good and services... it would have an opposite effect... it would IN FACT reduces the prices.. since GST is a broad tax type.. GST would be able to control (engineer) spending habits of Consumers, Households, and Firms.. thus controlling the Aggregate Demand of the economy.. if government wanted to have price stability they could just just raise it in order to lowers Aggregate Demand thus lowers the prices good and services at the cost of business and firms.. if in recession they could just lowers GST in order to increase the aggregate demand to spark business activity and revenue.. but the effect will be inflation (high demand = higher prices).. this is not my theory.. it is called Keynessian Model, john maynerd keynes.. father of modern economics taught is universities, well known and well respected, nobel price winner, international investors big firm aspect world government RELIGIOUSLY to follow this keynessian model not classical model.. big adavantage if u want to attract international investor.. if u wanna learned it you can learn about Monetary and Fiscal policy how does it effects inflation..
Our B40 number is too high and they don't have anything to engineer. Introduce GST later when we are better.
Again , not abt the tax system pros or cons, the narrative on Govt who handle the tax, the leakage the corruption, tax collected is one thing how they spend is another thing …
The bigger catch for gst are the income tax and inflation. These are why businesses hate gst. There are tonnes of businesses under declare their income tax some only declare 10%!!! But with gst your income is uploaded at the point of sales hahaha
That is a valid point! Not declaring income is also unfair to other businesses that do declare 100% of their income, but then again it is only natural that businessman is profit driven, that's why we need a system that does the job!
The inflation rate after GST introduction are horrendous. Now, we still have inflation but it wasn't as bad and most of the current inflation are due to the reluctance of the government to raise OPR.
For me, GST is better, but make the accounting simpler
Wrong, it’s all about which social class you are targeting. The proletariats, middle class or the bourgeoisie. A broad tax system targets the middke and proletariats, while CGT and luxury tax targets middle and bourgeoisie.
Not to mention gov can reduce expenditure
There are so many ways to increase a country revenue other than asking the ppl to fork out their money for the gov. You can legalize marijuana too.
agong is already worried about the national debt
🥹
GST is definitely better, that's what I think anyway. But of course, not many poeple have good job or willing to work hard enough get a good job.
That's very true, not every system works for everyone, even if it's "technically" better
Do you know ugly truth of the Indian gst.
lets not go there...
Business dun care even if they claim back the gst, they still charge at higher price
that's true...
@@ZietInvests should let the end users claim the gst rebate by scanning receipts to the existing app like touchngo
najib GST cause many business close down because the cost getting gst system in place is too expensive and only accountant who are making profit for doing GST accounting
GST implementation is one off. Gov can subsidize SMEs with computer account software and training of accountant assistance. Cant see how Malaysia can function efficiently by complaining and blaming.
Many businesses? Oh yeah esp the middlemen who tried to exploit by playing with the high price before the goods reach the consumers, yeap their businesses closed down. And not forgetting the black markets. Lol
@@MichaelLee-bj8er but najib gov never did the rebate payment back to the small sme that why many majority of them close shop that the fact because najib use that gst fund for 1mdb debt payment
Corruption causes the gst failure in Malaysia. With good gov gst is better than sst
SST will also cause entrepreneurs to collapse😂
Follow Brunei - no tax
If all the people in the country are like you, country will eventually go bankrupt
GST vs SST is not important. Whats important is how the people’s tax money is used by the government.
That is also an important point 👀 That's why always keep an eye on budget Malaysia and where our tax money goes
palatau hapus gst majoriti negara negara amalkan gst adakah puak puak palatau ni lebih bijak dari singapura indonesia thailand usa france dan dari lebih 150 negara negara di dunia yg amalkan sistem cukai gst yg dapat beri pulangan ekonomi percukaian yg lebih baik ? sewaktu hampir pru rakyat diracuni kononnya gst zalim harga barang naik adakah sekarang harga barang murah ? gst 6% adalah lebih baik dari sst 6 % yg kemudiannya terpaksa dinaikkan ke 8 % baru baru ni kerana negara banyak kerugian , nak patah balik buat gst malulah takut rakyat perli . saya yakin punca pencen kalitangan awan ditarik kerana hapus gst
Yes GST is more beneficial to the country but these so -called "rakyat" is too stupid because believing their leaders to make the GST as political weapon
You talk so much But didn't even mentioned how changing to GST make the citizen Internal raised their own Price without regulation== A cup of Drink is RM3, all the aunties uncle say "ohh raised price already lo" becomes RM4 each Drink == That's how price getting higher, not the system it self the problem. If the Price is Fixed then GST may benefits== but keep say raise raise raise== Now tapau one rice from RM5 to Rm 7 == thats how it raised price without regulation. SO DONT CHANGE TAX SYSTEM AGAIN PLEASE
There is no truth, only ugliness.
🥲🥲
Thanks to Toni Pao! 🤭
He may Good in Mathematics! But Doesn’t have the numeracy wisdoms! 😉
👀
@@ZietInvestsif you go through KJ’s podcast with Toni …. You may see his statement like the clown 🤡 😂…. GST is gd but not for Malaysia now?!?
Nothing personal strictly Business …. He maybe knowledgeable but no Wisdom 🤭
The prices keep rising so it does not matter GST or SST. This is an excuse for vendors to increase price. End Consumers are losing in the end
that's a fair assessment
Nothing is ugly about SST maybe you are the one 😮
:(
Both are not good for the poor.
ugly in comparison to ?
The more competent GST scheme that’s widely implemented in most developed nations
@@ZietInvests GST and SST are counter capitalist. Tax should be based on simplicity, transparency and equality. In my opinion, only secular income tax can be considered ethical.
U pe datang cine lol
😂