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Friday, 31 October 2014

Three things that I will do if I ruled the world

10:39 Posted by Nick No comments

If I rule the world, there would be many possibilities that I would do to change the whole world and make things better than before.

First, I would eliminate wars. Wars just only make things go bad. By eliminating wars, we can save many lives, for example the war in Gaza, Palestine. Many lives like the childrens could be save just by only eliminating the wars. Other than that, I would ban all nuclear weapon which could be dangerous and I would rise the world with greener environment.

Secondly, I would help all the poor people and the homeless to get a better life. I will donate to all the charity in the world to build up a better accommodation. By doing this, all the people will live in harmony and evenly. 

Lastly, I would increase the age restriction of smoking by 1 years every years. So noone would die or get cancer because of smoking. We can save so many lives while maintaining the health level of every person. 

Goods and Services Tax (GST)

10:21 Posted by Nick No comments

A goods and services tax (GST), a value added tax (VAT), was scheduled to be implemented by the government during the third quarter of 2011, but has not yet been implemented. The government is still studying the possible impact of the tax and has not yet decided when it might come into effect. Its purpose is to replace the sales and service tax which has been used in the country for several decades. The government is seeking additional revenue to offset its budget deficit and reduce its dependence on revenue from Petronas, Malaysia's state-owned oil company. The 4% tax will replace a sales-and-service tax of between 5—10%.
The Goods and Services Tax Bill 2009 was tabled for its first reading at the Dewan Rakyat (the lower house of the Malaysian parliament) on 16 December 2009. It was delayed amid mounting criticism. The government responded by asserting that the tax on oil income will not be sustainable in the future. National Consumer Complaints Centre head Muhammad Sha’ani Abdullah has said, “The government should create more awareness on what the GST is. The public cannot be blamed for their lack of understanding, and thus, their fears”. Sha’ani says that the GST will improve accounting, reduce tax fraud, and facilitate enforcement of the upcoming Anti-Profiteering Act. Muslim Consumer Association of Malaysia leader Datuk Dr. Ma’amor Osman said the GST could help end dishonest business practices, but expressed concern about how the tax would be applied to medical products and services. A group leading the campaign against the GST, Protes (which objects to the GST because of concerns about its effects on low-income Malaysians), cancelled a planned protest but has stated that they will continue to agitate against the legislation.
During the government reading of the 2014 budget, Malaysian Prime Minister Najib Razak announced a GST tax of 6% starting on April 1, 2015. This will replace the Sales and Services Tax.
During the unveiling of the national budget, it was announced that the following goods and services would be exempted from GST:
  • RON95 petrol, diesel and LPG
  • Electricity up to 300 Kwh
  • All local and imported fruit
  • Types of bread, tea, coffee and noodles
  • Medication for treatment of 30 diseases
  • Reading materials and newspapers

GST is a progressive tax regime that will supplant the Sales Tax and Service Tax in Malaysia in the near future. Understanding its mechanisms will help us to better gauge its potential impact on our lives and prepare for it.