The Associated Chinese Chambers of Commerce and Industry of Malaysia (ACCCIM) has published survey results which shows that 40 per cent of small and medium enterprises (SMEs) are not ready to implement the goods and services tax (GST) system and would require between 12 and 18 months to prepare themselves.

ACCCIM's National Council and SME Deputy Chairman Koong Lin Loong said the survey also revealed that a lot of people thought that the system will cause inflation with higher prices of goods and services. Koong continued by stating that the SMEs would need to be well prepared as they would need to upgrade their accounting and computer systems as well for the system as well as consultations to ensure the effectiveness for them in the event the system is implemented. The ACCCIM National Council member, a proponent of the GST, explained that through the system SMEs will only be charge by the amount spent instead of the amount earned.