Govt still studying on the reintroduction of GST
KUCHING: The government will take the proposal to reintroduce the Goods and Services Tax (GST) to the Cabinet if it is found to be beneficial to the country and its economy. Finance Minister Tengku Datuk Seri Zafrul Tengku Abdul Aziz said 175 countries had introduced the GST as it contributed to the country’s Gross Domestic […]
Mixed reactions to reintroduction of GST
KUCHING: The federal government is keen to bring back the goods and services tax (GST) in order to expand its revenue base. Prime Minister Ismail Sabri said the government was aware of the negative perception towards GST. Hence, it would formulate ways to educate the public on the importance of GST and transparent tax collection […]
Set GST rate at 3pct, suggests assemblyman
KUCHING: The Goods and Services Tax (GST) rate needs to be set at three per cent instead of six per cent previously, if it is reintroduced, says Dennis Ngau. The Telang Usan assemblyman said while the rate could be revised later, it should only be done depending on the current economic situation. “If I may […]
GST reintroduction: YAY or NAY?
KUALA LUMPUR: Three years after the Goods and Services Tax (GST) was abolished in Malaysia, the country is now back at the juncture of organisations asking for the tax to be reintroduced. Are we going on the merry-go-round of endless debates on whether it is yay or nay for the tax, or is it just […]
Govt may need to impose ‘windfall tax’ on companies recording extraordinary profits
KUALA LUMPUR: The government may need to impose a windfall tax on companies that recorded extraordinary profits during the Covid-19 pandemic, said former prime minister Tun Dr Mahathir Mohamad. According to him, the tax will enable the government to increase its financial resources as well as help the people who are affected and increasingly squeezed […]
MOF undertaking study to widen revenue base including reinstating GST
KUALA LUMPUR: The Ministry of Finance (MOF) is currently undertaking a study on how to widen Malaysia’s revenue base which include reinstating goods and services tax as well as reviewing the tax incentive packages to further consolidate them and make it more targeted and strategic. Deputy secretary-general Zakiah Jaafar said the ministry was about to […]
Abolishment of GST affected nation’s revenue
KUALA LUMPUR: The previous government’s decision to abolish the Goods and Services Tax (GST) has to some extent affected the country’s revenue, said Deputy Finance Minister I Datuk Abd Rahim Bakri. He said this was because the country faced a revenue shortfall when GST was abolished and replaced with the Sales and Service Tax (SST). […]
‘Aye’ to reintroduction of GST
KUCHING: The government’s plan to reintroduce the Goods and Services Tax (GST) has generally received a positive response from the people. However, members of the public have urged for consideration to be given to the timing and effect of its implementation as well as for careful planning and monitoring to be carried out. Recently, former […]
Committee to study reinstatement of GST
KUALA LUMPUR: The Ministry of Finance (MOF) has set up a committee to study various revenue enhancing measures, including the possibility of reintroducing the Goods and Services Tax (GST), according to Maybank Investment Bank (Maybank IB) Research. In a note released today following a dialogue with Finance Minister Tengku Datuk Seri Zafrul Abdul Aziz last […]
