KUALA LUMPUR (Dec 16): The government has not made any decision to reintroduce the goods and services tax (GST) in the midst of the Covid-19 pandemic, said Finance Minister Tengku Datuk Seri Zafrul Abdul Aziz.
The government’s priority is to fight the pandemic, protect the people and support businesses, he told the Dewan Rakyat yesterday in a written reply to Ling Chai Yew (DAP-Sibu).
Nevertheless, he said the government was studying and soliciting views as well as feedback from various parties with interest, on any feasible consumption tax models while taking into account every aspect including the weaknesses of the current sales and services tax (SST) and previous GST.
"This study will cover the impact on the economy, cost of living, impact of the tax on price of goods and its ability to fight black economy activities.
“Any taxation system, whether improved or new, must be simple to administer and not increase business costs, and can strengthen the country’s fiscal position,” he said.
Get the latest news @ www.EdgeProp.my
Subscribe to our Telegram channel for the latest stories and updates