Malaysia is in the midst of improving sales and services tax, which replaced the goods and services tax in 2018, Prime Minister Mahathir Mohamad said Oct. 8 in parliament in Kuala Lumpur.
- The government needs to study suggestion to reintroduce GST and consider the impact on consumer prices, inflation, compliance costs, and tax refunds.
- Malaysia shouldn’t frequently change its tax system as it will reduce investor confidence and erode country’s image.
- Mahathir is confident Malaysia will collect higher revenue with SST compared to GST if managed well.
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