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this post was submitted on 07 Jan 2024
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myeconomybusiness
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Ah I see. I wonder if it's a lingering effect of GST. I recall many medicine shops had to close down as the GST made things too convulated for the elderly shopkeepers.
It's easier to track the "underground economy" with GST or e-invoicing. Some shady businesses might have closed because Customs and IRB are involved in the GST system. Since we can't touch GST now, this govt plan to introduce e-invoice in stages, which should have a similar effect.