Some thoughts on today's #GST decisions. 1. Glad the Council and Finmin have heeded feedback from consumers and taxpayers.
2. Given the magnitude of changes and suggestion of more to come maybe today marks the real #GST implementation day.
3. But no clarity yet on whether revenue neutrality will be achieved after these cuts. Or was this a case of overestimation at the start?
4. Or has the collection data offered evidence of substantial base expansion that will help fill the gap?
5. Noone in their right mind could've expected this massive tax change to be easy. But how do taxpayers deal with frequent changes?
6. Does this set the stage for rate convergence?
7. Finally, what will be the fiscal impact of all these changes? When will we get readable revenue data?
