Federal govt urged to reintroduce GST
SIBU: Deputy Minister for Public Health, Housing, and Local Government, Datuk Michael Tiang Ming Tee, has urged the federal government to reconsider the reintroduction of the Goods and Services Tax (GST). The Pelawan assemblyman said that GST offers a broader tax framework compared to the Sales and Service Tax (SST). “SST currently contributes 11 per […]
Avoid complacency, learn from the past
The price of inaction is far greater than the cost of making a mistake. ― Eckhart von Hochheim, German Catholic theologian, philosopher and mystic The current government should not allow itself to be complacent and overlook potential risks. We can learn from past instances where this happened during the Barisan Nasional (BN) federal government before […]
Steep price for reforms
GST is not just a tax reform; it’s an economic and social reform. – Narendra Modi, Indian Prime Minister Seeing how things turned out in politics and the government today, Malaysians are pining for a return to the ‘good old days’. Of course, the government pre-GE14 (14th general election) is not facing the challenges today […]
GST reintroduction needs to be carefully executed: Economist
KUALA LUMPUR: The possibility of reintroducing goods and services tax (GST) will need to be carefully executed to ensure the people gain full benefit from the tax system, economists said. Lead researcher (Centre of Excellence in Islamic Finance), INCEIF University, Prof Dr Baharom Abdul Hamid said the GST, which is a consumption-based tax, is an […]
Reinstating GST will bolster govt revenue, but more clarity needed: economists
KUALA LUMPUR: Bringing back the goods and services tax (GST) will bolster government revenue but more clarity is needed for market players to adjust their investment decisions accordingly, say economists. Bank Muamalat Malaysia Bhd chief economist Mohd Afzanizam Abdul Rashid said while it makes sense for the government to reconsider the GST as the tax […]
Govt still has space to control nation’s expenditure: Minister
KUALA LUMPUR: The government still has space to monitor the country’s expenditure particularly development expenditure to ensure it is more prudent and accurate according to the project plans and this will indirectly assist the government in terms of better revenue needs. Economy Minister Mohd Rafizi Ramli said if the government is able to manage the […]
Revised Budget must bring about notable changes
KUCHING: As the Dewan Rakyat sitting began on Monday (Feb 13) and the revised Budget 2023 is expected to be tabled in a week, there is growing anticipation for the federal spending plan to be unveiled by Prime Minister Datuk Seri Anwar Ibrahim. According to Carlson Lester, a PhD candidate in economics, the upcoming revised […]
GST is good if the govt manages it well: Abdullah Saidol
KUCHING: The Goods and Service Tax (GST) benefits the country only if the government manages it properly and efficiently to help improve the livelihood of the rakyat. Deputy Minister in the Premier’s Department (Corporate and UKAS) Datuk Abdullah Saidol opined that if the GST is reintroduced the taxes can be used to help society, especially […]
No plans to reinstate GST: Anwar
KUALA LUMPUR: The government has no plans to reinstate the Goods and Services Tax (GST) or introduce any other broad-based consumption tax as a means of addressing the national debt issue, said Prime Minister Datuk Seri Anwar Ibrahim. Anwar, who is also Finance Minister, said other measures will be taken in the effort to reduce […]
Harmonising GST, SST with HSST?
KUALA LUMPUR: Tax experts and industry players have proposed that the government should consider combining the best of the Goods and Services Tax (GST) Act and the existing Sales and Services Tax (SST) Act, and be called the Harmonised Sales and Services Tax (HSST) Act to improve the current consumption tax system in the country. […]
