DECEMBER 13 — Is GST back with a vengeance, albeit in a much lesser form? That is, is the digital...
Friday, 13 Dec 2019 10:37 AM MYT
Even the level at which the DST is imposed in exactly the same as or reminiscent of the GST when it was first implemented on 1 April 2015,at 6 per cent. Granted the DST is only expected to rake in RM2.4 billion initially for the government, nonetheless, the scope and extent is expected to widen in the years to come as digitalisation gathers speed and momentum, and is its own catalyst and impetus.
Other terms would be base erosion and transfer pricing, as examples. And hence, to further refine the question: Is the DST an effective anti-tax avoidance tool? As Malaysia signed on 24 January 2018 but has yet to ratify, there is an anomaly. Whilst the Treaty has no legally binding force in Malaysia for now, the Framework is operational. But it is still critical for our country to seek to deposit the instrument of ratification without undue delay. This to ensure that provisions would be legally enforceable, even at the behest of citizens.
Perhaps to provide the DST with legitimacy from a moral and social perspective, part or whole of the revenue could be channelled towards the Universal Service Provision fund for the National Fiberisation and Connectivity Plan to bridge the urban-rural divide. This in turn will boost the DST coffers in time to come.
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