World Bank: Malaysia needs to diversify revenue base

“The country also needs to diversify its revenue base. On the goods and services tax, I will not wade into (it) as I don’t have enough specifics,” World Bank Group’s lead economist Apurva Sanghi said at the World Bank’s Malaysia economic briefing yesterday. (File pic shows World Bank logo)

KUALA LUMPUR: There are many ways to boost the country’s revenue even as the government’s expenses have risen to soften the effects of Covid-19 on the economy.

The World Bank panel said that the raising of the country’s revenue can be done through many ways and it does not necessarily have to entail imposing new types of taxes on the population at this point in time.