No probs, round about GE19, when our per capita income has tripled and we are top 10 in Transparency Index, I will gladly pay 20% GST/VAT/WhateverT. By that time Liew Chin Tong will be Finance Minister. In the meantime sayonara GST.
Guanee just revealed the latest Red File, BN govt misused 18B GST refunds. That’s why I say pay GST only when we have a Top 10 place in Transparency Index ranking. Pay Up Suckers !!!
Yup...now we know why Bijan Malaysia GST was seriously out of line with internationally practiced GST. Claimable input GST which is supposed to be paid back as routine procedure in most countries was never done, causing many businesses serious cash flow problems and raising business costs. It basically reduces your cash flow by 6%. Many businesses simply cannot afford it, or are forced to borrow more or raise prices to finance their business.
Out of RM 19.5 Billion in claimable input GST that Bijan MOF owed nationwide Businesses, only RM 1.5 Billion was left in the account.
International Accounting standards - favourite word for Bijan pom-pom no girls (until now) require the Government to set aside this Liability until it gets paid.
But BijanTun Gasak's MOF already Gasak most of the money.
Hishamuddin, Defence Minister for 5 years from 16 May 2013 to 10 May 2018, passed to his successor Mat Sabu 28 fighter jets (Sukhois and MIGs) BUT ONLY 4 COULD FLY, now advises Mat Sabu to "learn first then I will critique later".
Hishammuddin to Mat Sabu: Learn first, I'll critique later Wednesday, 8 Aug 2018
KUALA LUMPUR: Former defence minister Datuk Seri Hishammuddin Hussein is waiting for his successor Mohamad Sabu's "honeymoon period" to be over, before he starts airing his views on the current minister's administration.
"I purposely did not say anything this (Parliament) meeting because I wanted to give him some time to learn and see what is going on in the ministry.
"I wanted to see what decisions he would make in this time, but once Pakatan Harapan's 100 days are up, I will state my views, starting with the King Salman Centre, defence assets, and the welfare of our servicemen, families and veterans," he told reporters at the Parliament lobby on Wednesday (Aug 8).
Ya lor...so condescending coming from the guy who heavily mismanaged the Defence portfolio. We have not forgotten the incompetent early response to the Lahad Datu incursion.
Technically, it is not wrong if the Mof still showed the RM 18 Billion as a liability on its books.
However, since GST Input Tax Refunds are supposed to be paid (according to the GST Act) within 30 days, it is a short term liability.
It is very strange that the cash has been diverted to Goodness knows what accounts. RM 18 Billion is a huge amount of refundable Input Tax, and the Government needs to come clean on how long aged this is.
At the rate the PH Govt. is managing finances, recouping losses, recovering lost monies, cutting expenditure it would not be surprising that SST may not even be required in 5 years time what more the need to consider even GST.
pH have earned the mandate to govern as they see fit but you just can't accept the fact can you
no one is disputing the gst is an efficient tax system but as the tokong have just highlighted the revenue collected if controlled by corrupt politicians could be misappropriated which defeat its purpose
perhaps bn's mistake was setting it at 6 percent where as 3 would have been grudgingly acceptable
I envisage pH would revert back to gst in future at a lower rate
E defender of GST with kembong and clam images since time immemorial.this post feels out of place without those 2 images.just like M post without pharaoh & Perkasa images will feel so out of place. No KT signature post will b without them. i oredi mention since time immemorial too, watever tax u wan 2 impose, if u cant guarantee leakages, then wat is e use?r we happy paying tax when corruption is sky high?
No probs, round about GE19, when our per capita income has tripled and we are top 10 in Transparency Index, I will gladly pay 20% GST/VAT/WhateverT. By that time Liew Chin Tong will be Finance Minister. In the meantime sayonara GST.
ReplyDeleteBy GE19, PH will be long gone in history.
DeleteGuanee just revealed the latest Red File, BN govt misused 18B GST refunds. That’s why I say pay GST only when we have a Top 10 place in Transparency Index ranking. Pay Up Suckers !!!
ReplyDeletehttps://m.malaysiakini.com/news/438021
ReplyDeleteYup...now we know why Bijan Malaysia GST was seriously out of line with internationally practiced GST.
Claimable input GST which is supposed to be paid back as routine procedure in most countries was never done, causing many businesses serious cash flow problems and raising business costs. It basically reduces your cash flow by 6%. Many businesses simply cannot afford it, or are forced to borrow more or raise prices to finance their business.
Out of RM 19.5 Billion in claimable input GST that Bijan MOF owed nationwide Businesses, only RM 1.5 Billion was left in the account.
International Accounting standards - favourite word for Bijan pom-pom no girls (until now) require the Government to set aside this Liability until it gets paid.
But BijanTun Gasak's MOF already Gasak most of the money.
Hishamuddin, Defence Minister for 5 years from 16 May 2013 to 10 May 2018, passed to his successor Mat Sabu 28 fighter jets (Sukhois and MIGs) BUT ONLY 4 COULD FLY, now advises Mat Sabu to "learn first then I will critique later".
ReplyDeleteHishammuddin to Mat Sabu: Learn first, I'll critique later
Wednesday, 8 Aug 2018
KUALA LUMPUR: Former defence minister Datuk Seri Hishammuddin Hussein is waiting for his successor Mohamad Sabu's "honeymoon period" to be over, before he starts airing his views on the current minister's administration.
"I purposely did not say anything this (Parliament) meeting because I wanted to give him some time to learn and see what is going on in the ministry.
"I wanted to see what decisions he would make in this time, but once Pakatan Harapan's 100 days are up, I will state my views, starting with the King Salman Centre, defence assets, and the welfare of our servicemen, families and veterans," he told reporters at the Parliament lobby on Wednesday (Aug 8).
Ya lor...so condescending coming from the guy who heavily mismanaged the Defence portfolio.
DeleteWe have not forgotten the incompetent early response to the Lahad Datu incursion.
19.5B now to be added to the 1 Trillion debt. Drop in the ocean but a HUGE drop. Half of 1MDB.
ReplyDeleteTechnically, it is not wrong if the Mof still showed the RM 18 Billion as a liability on its books.
DeleteHowever, since GST Input Tax Refunds are supposed to be paid (according to the GST Act) within 30 days, it is a short term liability.
It is very strange that the cash has been diverted to Goodness knows what accounts. RM 18 Billion is a huge amount of refundable Input Tax, and the Government needs to come clean on how long aged this is.
Deathly pin drop silence from Ktemoc on this issue, wakakakka. Siapa itu yang kiasu bullshitter, again wakakakkaka.
DeleteSuddenly, Ktemoc Know It All on GST becomes I don't know Nothing about GST....
DeleteWe are free from GST's yoke but now in SST's cage. From the frying pan into the fire. How is that a better option, huh, Guan Eng?
ReplyDeleteAt the rate the PH Govt. is managing finances, recouping losses, recovering lost monies, cutting expenditure it would not be surprising that SST may not even be required in 5 years time what more the need to consider even GST.
ReplyDeleteJust talking c*ck like Kaytee.
Wakakakaakakaakaaakka
pH have earned the mandate to govern as they see fit but you just can't accept the fact can you
ReplyDeleteno one is disputing the gst is an efficient tax system but as the tokong have just highlighted the revenue collected if controlled by corrupt politicians could be misappropriated which defeat its purpose
perhaps bn's mistake was setting it at 6 percent where as 3 would have been grudgingly acceptable
I envisage pH would revert back to gst in future at a lower rate
E defender of GST with kembong and clam images since time immemorial.this post feels out of place without those 2 images.just like M post without pharaoh & Perkasa images will feel so out of place. No KT signature post will b without them. i oredi mention since time immemorial too, watever tax u wan 2 impose, if u cant guarantee leakages, then wat is e use?r we happy paying tax when corruption is sky high?
ReplyDelete