‘Govt needs to widen tax base’

KUALA LUMPUR: The government has to widen its tax base to strengthen the country’s fiscal position because the current system based on the Sales and Services Tax (SST) is only predicted to collect RM22bil this year, says the Malaysian Institute of Certified Public Accountants (MICPA) president Dr Veerinderjeet Singh (pic).

This is a huge shortfall as the previous tax system – the Goods and Services Tax (GST) – had managed to collect RM44bil.