The committee seeks to analyse the weaknesses in the previous GST regime, identify means of improving its tax administration and enforcement, as well as combat inefficiencies in the legislation and plug certain compliance policy gaps.
THE Ministry of Finance (MoF) has set up a committee to assess the viability of reintroducing the goods and services tax (GST) into the Malaysian indirect tax landscape. The GST was replaced by the sales tax and service tax (SST) in September 2018.
The committee seeks to analyse the weaknesses in the previous GST regime, identify means of improving its tax administration and enforcement, as well as combat inefficiencies in the legislation and plug certain compliance policy gaps. Most importantly, the committee is studying the economic impact of a GST re-introduction, particularly in light of the adverse impacts of the Covid-19 pandemic. Below are some key observations with respect to the potential reintroduction of the GST.Potential benefits
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