Malaysia not ready for reintroduction of GST – Anwar
“I have previously stressed that in terms of the efficiency and a transparent taxation system, we are not ready for another implementation of GST. The people’s income is still very low. Hence, we will not be able to reinstate GST in the coming six to 12 months,” he said.
Speaking during the minister’s question time in Dewan Rakyat yesterday, he said that the rakyat’s income must first be increased and at a reasonable level for GST to be reinstated. He said that while countries like Singapore, Canada and New Zealand used that taxation systems, Malaysia was still far behind in terms of meeting the minimum income for a GST reinstatement.
“Their people have the minimum income for the GST if we compare, we have about 130,000 hardcore poor and poor income families from the B40 categories. Hence, this cannot be done now,” he said in reply to a supplementary question from Datuk Dr Zulkafperi Hanapi , who asked if the government had plans to reinstate GST.
“The capital gains tax and luxury goods tax that we recently introduced is more than enough for the country to gain extra income, aside from strict enforcement on tax evasion,” he said.when previous prime minister Datuk Seri Ismail Sabri Yaakob suggested it in an exclusive interview with. “We lost RM20 billion in annual revenue when we abolished the GST and replaced it with the old SST.
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