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Better consumer protection soon
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Monday, 15 March 2010 21:20
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KUALA LUMPUR – The government will incorporate new provisions into the Consumer Protection Act 1999 to provide additional protection to consumers who entered into a transaction, said Domestic Trade, Cooperatives and Consumerism Minister Ismail Sabri Yaakob.
He said the bill, which contained provisions on unfair contract terms, was expected to be tabled for first reading at the current session of the Dewan Rakyat.
"We have forwarded the new provisions to the Attorney-General's Chambers for approval," he told reporters after opening the World Consumer Rights Day 2010, themed "Our Money, Our Rights", at Giant Bandar Kinrara, Puchong, near here, today.
Right to challenge
He said the new provisions would allow consumers to challenge lopsided terms in hire-purchase agreements even after signing them.
The new act would also provide for the setting up of a special committee to monitor misleading advertisements, he said.
Ismail Sabri said in a Bernama report that the government needed to look further into the Goods and Services Tax (GST) before making it a policy.
The bill would not be tabled for second reading at the current Dewan Rakyat sitting, said Second Finance Minister Ahmad Husni Hanadzlah yesterday.
Two-year gap
A tax expert said a two-year gap between the release of full rules and guidelines, and the implementation of the GST, would be the preferred solution by most businesses in the country.
Deloitte's Asia Pacific indirect tax leader Robert Tsang said the GST was much more complex to manage than the sales tax and service tax.
"More time taken means better preparation, better compliance, less hassles and fewer problems," he said today.
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Last Updated on Monday, 15 March 2010 21:26 |
