There Are 160 Reasons India Won't Escape Sales Tax Chaos
- Network failure, rules interpretation could cause disruption
- Malaysia social media storm, South Korea taxi-driver confusion
Here's What You'll Pay After India's Massive Tax Overhaul
There can be no gain without pain and that may be especially true when it comes to taxes. As about 160 countries overhauled their indirect tax systems, they confronted numerous challenges. Latecomer India is unlikely to escape some havoc.
When Canada implemented its goods and services tax in 1991, retailers offered customers “Don’t Blame Me for the GST” stickers amid cash-register snafus and vending-machine meltdowns. In Australia, Japan, Malaysia and Singapore, where the GST was lower than pre-existing rates, the new regimes initially pushed up inflation, according to a May 26 report from Nomura Holdings Inc.