PARLIAMENT The implementation of the Goods and Services Tax (GST) will not be postponed from its original date of April 1 next year, the government insists, despite acknowledging people's concerns over prices of goods.
In a written answer to Lim Lip Eng (DAP-Segambut), the Finance Ministry said the government and business sector are well prepared to implement the GST.
Lim asked whether the government would postpone the new tax system due to the GST software not being fully prepared and also, to wait until the country becomes a high-income nation.
"The implementation of GST on April 1, 2015, will not be postponed," the ministry’s reply says.
The ministry also said people have become more "accepting" of the GST over time because of the government's awareness campaign.
"The people now realise that the GST is necessary for the country's development," it said.
The ministry, however, acknowledged that the people fear the possibility of prices of goods shooting up after GST is implemented.