PASIR GUDANG: The Government plans to reduce corporate and individual tax in the 2012 Budget to be tabled in Parliament on Oct 7, said Deputy Finance Minister Datuk Donald Lim Siang Chai.
He said the reduction was possible once the long-awaited goods and services tax (GST) was enforced, reported Bernama.
More than 225 countries in the world have implemented the GST and Malaysia would have to introduce it sooner or later, he told reporters after opening Pantech Group Holdings Bhd's RM100mil Pantech Stainless and Alloy Industries Sdn Bhd here yesterday.
By implementing the GST, Lim said the Government hoped to reduce the country's national deficit to between 2.8% and 3% by 2015 from 5% now.
He also said the business community could expect some “goodies” as the Government acknowledged the vital role played by the private sector to transform Malaysia into a high income nation by 2020.
In PETALING JAYA, Lim , who is Selangor MCA chairman, challenged DAP leaders Karpal Singh, Lim Guan Eng and Lim Kit Siang to contest in constituencies with two-thirds Malay electorate if they were confident they represented multi-racial electorates.
He had delivered the keynote address at the “Chinese Against Chinese, Who's The Culprit?” forum at the MCA PJ Selatan building.
“If they win, I'll quit politics and resign from the MCA because that would mean the country has reached a maturity level of accepting one another beyond our races,” said Lim, who agreed with MCA vice-president Datuk Chor Chee Heung's earlier statement that the DAP was a hypocrite for contesting in only Chinese-majority constituencies while claiming to be a multi-racial party.
The MCA, he said, had helped the nation by building educational institutions like Universiti Tunku Abdul Rahman and Kolej Tunku Abdul Rahman.
“These institutions have produced more than 200,000 young graduates who are now able to play a role in nation-building and are able to take care of themselves and their families,” said Lim.
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