The actual estimated revenue after the increase in SST is around RM3 billion, according to Ong Kian Ming.
An economist says the increase in SST is a progressive move as it does not affect food but on goods bought mainly by businesses and those in the higher-income group.
“Hamzah should seek clarification from the finance ministry on this point when the minister or deputy minister replies in Parliament,” said Ong, a former two-term MP for Bangi and former deputy minister of international trade and industry. He now heads the politics, philosophy and economics degree programme at Taylor’s University.
He said the higher rate would generate more revenue without broadening the tax base through levying taxes on a wider range of people or a wider range of goods, which would result in people in low-income groups getting drawn into the taxpayer group. This is why broadening the tax base should be avoided,” he told FMT.
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