Economic update: (from left) World Bank economist Shakira Teh Sharifuddin, Record and communications officer Joshua Foong at the briefing on economic update for East Asia and the Pacific.
PETALING JAYA: A day before Budget 2020, the World Bank has recommended that the government broaden the coverage of items under the sales and service tax (SST) and expand personal income taxes, among potential measures to diversify Malaysia’s sources of revenue.
The suggested measures are expected to rebuild the country’s fiscal buffers, which the World Bank’s lead economist for Malaysia, Richard Record, described as “limited” at the moment.
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