Economist: GST Not Suitable for Current Economy
By Loshinniy Nair S. Baskaran,
15th October: An economist has stated that implementing the Goods and Services Tax (GST) is not appropriate for Malaysia’s current economic conditions. He emphasized that the nation is still recovering from the effects of the pandemic, and introducing GST could burden consumers and hinder economic growth. The economist argues that many households are already facing financial difficulties, and additional taxation could exacerbate these issues.
Furthermore, he believes that the government should focus on improving the efficiency of its existing tax collection systems rather than adopting new taxes like GST. He suggests that addressing the inefficiencies in the current taxation framework would be a more effective way to boost revenue. The economist also called for a comprehensive review of the economic policies to ensure they align with the needs of the populace, as stated in Free Malaysia Today.
About Author
