FMM lauds reintroduction of GST

FMM president Tan Sri Soh Thian Lai is hopeful that the GST will be set at a rate that will not burden the rakyat, yet be capable of widening the government’s revenue base to lower its debt ratio and accelerate the pace of fiscal consolidation.

PETALING JAYA: The Federation of Malaysian Manufacturers (FMM) believes that the reintroduction of the goods and services tax (GST) will support a stronger economic revival and be a more effective tax regime compared with the current sales and service tax (SST).

FMM president Tan Sri Soh Thian Lai is hopeful that the GST will be set at a rate that will not burden the rakyat, yet be capable of widening the government’s revenue base to lower its debt ratio and accelerate the pace of fiscal consolidation.