The Government of Hong Kong SAR has given the following undertaking in the GST consultation paper. The consultation process will last for 9 months.
"It is the Government's intention that the tax reform package would not need to generate additional revenue. It is our plan that for the first five years after GST introduction, all revenue so generated would be returned to the community as tax relief and other compensation measures. We also proposed that all key elements of the tax reform, would remain unchanged for the first five years."
The tax relief could be the reduction of income tax rate or additional tax relief.
How about Malaysian version of GST? Everything is keep in the dark. No such undertaking was given by Abdullah's administration.
Let's wait for the budget day, September 1st. I believe the 84-day maternity leave package for the female civil servants will be announced then.
1 comment:
I live in HK, I wish they impose the GST as soon as possible. It is crazy to let the middle class to support the whole government income.
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