- The government will not reintroduce GST for now because businesses would need up to two years to prepare their systems.
- Prime Minister Anwar said Malaysia will keep the current SST system, which is seen as more targeted and less burdensome on most Malaysians.
- He noted GST would affect all Malaysians, including lower-income groups, while SST has been in use for over 40 years and is already well understood.
- The government says now is not the right time for GST given current incomes and cost-of-living pressures.
- To handle higher subsidy costs, the government is reprioritizing spending, tightening operating expenditure, and preserving aid, social protection, and subsidies.
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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