Jomo: Malaysia may need to consider a “modified VAT”

Professor Jomo Kwame Sundaram

KUALA LUMPUR: Malaysia may need to consider a modified value added tax (MVAT) as it needs to devise systems to suit the present times and ensure future sustainability in finances, says Professor Jomo Kwame Sundaram, an economist and research adviser at the Khazanah Research Institute.

This is less than 10% of the workforce are paying taxes at the moment, according to government data.