- Datuk Seri Ismail Sabri Yaakob argues that reintroducing the goods and services tax (GST) would be more efficient, transparent, and fair compared to the current sales and service tax (SST).
- Ismail Sabri believes that increasing the SST from 6% to 8% is not the right move as it would burden consumers without generating significant revenue.
- He states that GST, which was zero-rated in 2018, has proven to be superior to SST.
- Ismail Sabri highlights that the country lost approximately RM20bil to RM30bil annually due to the “black economy” when GST was abolished.
- He questions the preparedness of the central database system (Padu) that would ensure subsidies are given only to eligible individuals.
- Ismail Sabri raises concerns about the potential increase in prices of chicken and eggs when price controls are lifted.
- He suggests that reinstating GST would provide a much-needed boost to the country’s tax revenue to fund development.
Source: thestar.com.my
Note that this post was (partially) written with the help of AI. It is always useful to review the original source material, and where needed to obtain (local) advice from a specialist.
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