Wednesday, March 9, 2016

Customs refutes Dr Mahathir’s claims that GST forcing companies to close shop

The Customs Department today rejected claims that companies are closing shop and moving overseas due to the goods and services tax (GST). Customs deputy director-general Datuk Subromaniam Tholasy said such claims did not make sense as some of Malaysia's neighbours had higher GST rates. "Where are these companies going to go? They will end up moving into other countries where the GST rate will be higher. The GST is implemented to make the cost of doing business lower. "The claim that businesses are moving out of the country does not make sense. These claims must be based on fact and reality," Subromaniam told reporters in Kuala Lumpur today. Former prime minister Tun Dr Mahathir Mohamad claimed last week that GST was driving companies to shutter and move their operations overseas. Dr Mahathir, a staunch opponent of Datuk Seri Najib Razak, made the claim when launching the "Citizens' Declaration" on March 4 to oust the prime minister. – March 10, 2016.]]>

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