RM222 million initially to implement GST
Published: Jul 14, 2010 10:58 AM | Updated: Jul 14, 2010 11:15 AM
Initial costs for the government to implement the Goods and Services Tax (GST) system amounts to RM222 million, said the Finance Ministry yesterday.
Initial costs for the government to implement the Goods and Services Tax (GST) system amounts to RM222 million, said the Finance Ministry yesterday.
The ministry, in a written reply to Teo Nie Ching (DAP-Serdang) (left), said the government has an adequate allocation to ensure the implementation process of the GST system goes smoothly.
The initial cost comprises RM130 million for computerised systems, RM83 million for operational costs undertaken by the Royal Customs Department and an additional RM8.5 million annually for maintenance costs.
The GST bill, first tabled during last December's Parliament sitting, was proposed as a means to reduce the government's dependence on revenue from state oil giant Petronas which accounts for over 40 percent of the country's revenue.
It was supposed to be passed during the more recent Parliament sitting, but after much criticism and opposition, the government postponed the implementation to give it more time to gather feedback from the rakyat.
The ministry, in a written reply to Teo Nie Ching (DAP-Serdang) (left), said the government has an adequate allocation to ensure the implementation process of the GST system goes smoothly.The initial cost comprises RM130 million for computerised systems, RM83 million for operational costs undertaken by the Royal Customs Department and an additional RM8.5 million annually for maintenance costs.
The GST bill, first tabled during last December's Parliament sitting, was proposed as a means to reduce the government's dependence on revenue from state oil giant Petronas which accounts for over 40 percent of the country's revenue.
It was supposed to be passed during the more recent Parliament sitting, but after much criticism and opposition, the government postponed the implementation to give it more time to gather feedback from the rakyat.
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