KUALA LUMPUR: Malaysian Prime Minister Anwar Ibrahim reiterated that the government has no plans to reintroduce the Goods and Services Tax (GST) within the next six months to a year.
Mr Anwar, who is also the finance minister, said that the proposed, as well as efforts to earn more income and implement strict measures against tax evasion, are a sufficient alternative to reintroducing GST."It's usually the rich tycoons that evade tax and are protected. This is not a new issue.He added that he has ordered investigations into such cases, including those mentioned inThe Pandora Papers are a trove of 11.
Under the current SST regime, which has a narrow tax base, there is a tax of between 5 per cent and 10 per cent on the sale of goods, while services attract a 6 per cent levy. In comparison, the former GST regime covered a broader range of items and services with the rate set at 6 per cent. GST was introduced in April 2015 by former prime minister Najib Razak.
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