Irwan: Malaysia to lose RM416.6bil if GST, tolls, PTPTN, excise duty were abolished

Tan Sri Dr Mohd Irwan Serigar Abdullah is no longer on the board of directors of Bank Negara Malaysia.

KUALA LUMPUR: Malaysia will lose RM416.6bil in revenue if the Goods and Services Tax (GST), tolls, National Higher Education Fund Corp (PTPTN) loans and excise duty were abolished, said Ministry of Finance (MoF) Secretary-General, Tan Sri Dr Mohd Irwan Serigar Abdullah (pic).

He said the abolition of GST would cause the country to lose RM45bil while toll (RM338bil), PTPTN (RM3.9bil) and excise duty (RM2.4bil).