Run-up to Budget 2014 (extracts)
This Friday, Prime Minister Datuk Seri Najib Tun Razak is expected to
deliver yet another budget and there have been many speculations by the
public and experts on the matter.
At this time, it is unclear how much consumers will each have to pay for common goods and services and whether essential items will be excluded from the tax. Our neighbour, Singapore, first implemented GST in 1994 at 3% but has increased the rate four times since then, with the latest hike in 2007 to 7%.
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