Malaysia Will Benefit From GST

KUALA LUMPUR: The National Union of Bank Employees (NUBE) has taken the position, in a statement, that if the Government is desperate in implementing the GST, it should be confined only to luxury goods and services and those living luxurious and exclusive lifestyles.

“There will be sufficient revenue for the Government from these groups,” said the union in the statement.

“Otherwise, the implementation of the GST must be reviewed in view of the serious negative impact on 12 million workers and their families.”

The impact of the GST on the ordinary man on the street is still not clear, added the statement. “To claim that the people will not be impacted by the GST is not true.”

There is no guarantee that the cost and prices of goods will not go up after the GST is implemented, it continued. “There is a wide range of assistance for businesses but not for the people.”



“It is unwise in the light of the current socio-economic situation especially with the value of the ringgit falling.” The integrity of the government in distributing and expanding the wealth of the nation fairly and wisely can be questioned, it stressed.

It cited a few examples viz. wrongful and wasteful spending of taxpayers fund as reported annually by the Auditor-General and which has not been addressed; the multi-billion 1MDB scandal; and the worst floods in living memory which have affected the lives of more than 250,000 Malaysians and took 21 lives.

The Government announced that a sum of RM 800 million has been allocated for the flood victims, noted the statement, “but no money to rebuild their lives”.

Among other examples of financial and economic mismanagement by the Government, NUBE said that funds from the EPF have been ploughed into investments without the consent of workers.

“The Government has not made any effort to reduce the widening income inequality,” said the union. “There is no commitment from the Government agencies or the government-linked companies to make amends on this matter.”

It acknowledged that the Government MPs voted for the GST but lamented that they did not look at the impact of the new tax on the lives of the people. “The Government is under extreme public scrutiny, yet seems immune to criticisms.”

Source: Free Malaysia Today , Malaysia, dated 13/01/2015.