Govt sets up monitoring committee to ensure GST implemented smoothly

PUTRAJAYA, May 15, 2014: The government has established a Goods and Services Tax (GST) Monitoring Committee to ensure the implementation of the tax system in the nation would proceed smoothly.

The Finance Ministry in a statement today said the committee is responsible to ensure policies, laws and guidelines pertaining to the tax are ready, and to also monitor the implementation readiness of government agencies and industries.

“It will also serve to tackle issues raised by the people so the importance and welfare of the people can be taken into account and ensure communication on GST is carried out effectively,” the statement said.

The commitee is comprised of the International and Trade Industry Minister, Domestic Trade, Cooperatives and Consumerism Minister, Communication and Multimedia Minister, Urban Wellbeing, Housing and Local Government Minister, Works Minister and Minister in the Prime Minister’s Department.

It was learnt that secretary-general from the ministries are also part of the committee and the Customs Department director-general.

The ministry said in its statement that a working committee was also set up and it would comprise of representatives from the various industries, academicians and consumers.

The working committee, it said, was to act as a platform to provide suggestions and feedback on the implementation of the GST in April 1, 2015.

The Finance Ministry had also held a meeting chaired by Second Finance Minister Datuk Seri Ahmad Husni Hanadzlah, and among the issues discussed in the meeting were the tabling of GST bill in Parliament and the status of the GST implementation that has been carried out in the Finance Ministry and Customs Department.

In the meeting, the Domestic Trade, Cooperatives and Consumerism Ministry had also presented a complete strategy on how to control price hikes during the implementation of the new consumption tax policy.

“The move is to ensure traders will not take advantage from the implementation of GST to raise their prices indiscriminately,” the statement said.

The pricing data for more than 10,000 items from all constituencies would be collected and keyed into the bank database for the purpose comparison, before and after the implementation of the new tax policy.

The statement said the data would also be used as basis for enforcement by relevant departments and agencies if there were complaints of price hikes from consumers.

The meeting had also discussed on various methods that can be taken to improve and strengthen the communication with the public on the facts and advantages of implementing the GST.

source: New Straits Times