The Chinese Chambers of Commerce and Industry of Kuala Lumpur and Selangor hopes the government will keep the Goods and Services Tax (GST), if implemented, at below four percent in the first three to five years.

President Ter Leong Yap said that a lower tax rate for a certain period would help the people adapt to the new tax system.

“We also hope that with any GST, personal and corporate taxes will be reduced gradually,” he told reporters after the launch of ‘My Hero Award’ in Kuala Lumpur today by Minister in the Prime Minister’s Department Joseph Kurup.

Meanwhile, on the ‘My Hero’ award, he said it would recognise and acknowledge unsung heroes and heroines for their great deeds to society.

Applicants are required to write a true touching story on incidents that have occurred from Independence Day until now and six winners would be picked to receive RM3,000 cash and a trophy.

The closing day for entries is Oct 31.

- Bernama