EY expects GST of 4-6% if it returns in Budget 2023

KUALA LUMPUR: Should the goods and services tax (GST) make a comeback in Budget 2023, the government may consider a rate of between four and 6 per cent following a stringent assessment of the potential revenue that it could collect to support its spending, says Ernst & Young Tax Consultants Sdn Bhd (EY).

EY Malaysia tax managing partner Farah Rosley said the possible reintroduction of the GST has been a topic of discussion, and she believes GST, being a broad-based consumption tax, will contribute to the revenue collection of the country.