A Chartered Accountant with a Masters of Taxation and Bachelor of Commerce in Accounting, Annie Chua shared her Goods and Services Tax (GST) experiences with UTARians on 14 November 2017 at Sungai Long Campus.
Participants having a group photo with Annie Chua (seated, fifth from left) right after the talk
Annie Chua is a Malaysian global expert who has advisory experience with the Governments, global top corporations, and Big 4 firms, including experiences gained in Australia, Hong Kong, China, Dubai, Qatar, Myanmar, Malaysia and project with Australian Treasury and Finance Canada.
She shared about her interesting experiences while travelling around the nation, with the audience and said, “I am glad that Malaysian Small and Medium-sized Enterprises (SMEs) and Small Medium Industries (SMIs) are working closely with the Non-governmental organisation (NGO) and the Malaysian government on the necessary specifications and implementations of the GST System. Each country has a different kind of GST System due to different circumstances and economic situation, and in Malaysia, the Royal Malaysian Customs Department has an enforcement team to make sure the welfare of the citizen is taken care well and the price of the goods and services are charged reasonably.”
“I do not agree that the GST is being used as a marketing or a commercial tool. The price quoted or shown in every enterprise must be the price inclusive of GST. In the beginning, I understood that a lot of the enterprises did not understand the GST system, kept the old prices and caused a lot of losses. After more than 2 years of GST implementation in our nation, I believe that we need to be more open-minded about the GST system and take initiative to learn about it. There is no perfect system, so we need to continue to improve the system along the way. Six percent of GST is considered as the second lowest GST charged in the world as the highest is 35% while the lowest is 5%. I truly agree that GST is a must for a nation to be transformed into a developed nation,” she added.
During the talk, which was organised by the Centre for Extension Education (CEE), Chua also presented a lot of interesting photos that showed the wrong way of implementing GST which misled the consumers on GST issues. She also introduced the key roles of GST in the Budget 2018 and highlighted the following; the services provided by local authorities will not be subjected to GST, reading materials will be zero-rated, cruise operators are given relief from paying GST, construction of school buildings and houses of worship or funded through donations will be getting GST relief, management and maintenance of stratified residential buildings will not be subjected to GST, and the Labuan, Langkawi and Tioman will not be subjected to GST as well as the imports of big ticket.
Chua, one of the GST experts from the Ministry of Finance, who is also the author of the “Malaysian GST Legislation Plus” and “Malaysian GST 1-2-3” that brings together both her international and Malaysian experiences for the application of GST in Malaysia.
Chua sharing her GST experiences with more than 50 UTARians
CEE Director Lim Guat Yen (second from left) presenting the souvenir to Chua (second from right)
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