The Bank Islam chief economist opined that the GST is a much more robust and broader tax system compared with the SST.
While there is no"wrong or right” time to bring back the GST, its chief economist Firdaos Rosli opined that the GST is a much more robust and broader tax system compared with the Sales and Services Tax .
Firdaos said the reintroduction of GST must also take into account the people's perception and mindset change because it would have an impact on inflation. It must also consider how industries would adjust to the new system."It would be nice to have the rate at two to three per cent so that inflation measures could be somewhat mitigated," said Firdaos.
"Rating agencies do not only look at Malaysia but also at the sovereign debts of other countries which have risen because of the COVID-19 pandemic.
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