Friday, February 10, 2017

GST is inefficient and wasteful

My Starhub bill has the following legend at the bottom:

GE - Exclusive of GST
GI - Inclusive of GST
GZ - GST Zero rated

I do not know what they mean, and do not pay any attention to them.

There are many items in the bill, and each item has to be coded with.

GST has become a MONSTER. It is so complicated. Just imagine the millions of transactions that have to be coded each day and to be accounted.

It is an accounting and administrative nightmare. It is so wasteful. It adds to the cost of doing business.

The consumers are confused. They don't know what these items mean. Anyway, they don't pay attention.

There are better ways for the government to collect revenue. GST is an inefficient and costly method.

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