GST reintroduction still on the table, says Rafizi


KUALA LUMPUR: The possibility of reviving the Goods and Services Tax (GST) remains open, says Economy Minister Rafizi Ramli.

He said that although current plans are focused on the introduction of the capital gains tax next year, other forms of taxation will also be considered.

“One of the strategies to widen our revenue base is our focus on developing and rolling out the capital gains tax in 2024.

“Of course, the government will stick to that strategy.

“(However), we will be open to whatever ways we can have to achieve fiscal sustainability through a wider revenue base, whether it is going to be capital gains tax, GST or any other form of direct and indirect taxes.

“I prefer to keep that strategy open. We will decide on a case-to-case and year-to-year basis,” he told reporters yesterday after attending the tabling of the 12th Malaysia Plan Mid-Term Review (MTR) in Parliament yesterday.

Rafizi was responding to a question on whether the government plans to reintroduce the GST under the 12th Malaysia Plan.

Last Wednesday, MCA president Datuk Seri Dr Wee Ka Siong suggested the government reintroduce GST with several improvements such as an exemption list, zero-rated supply, and giving financial aid to the poor with the increased government revenue.

His suggestion was supported by several economists who agreed that the GST should only be revived if there are clearer mechanisms.

Earlier yesterday at the tabling of the MTR, Prime Minister Datuk Seri Anwar Ibrahim told the Dewan Rakyat that fiscal reforms are needed to ensure that the country’s finances are managed in a sustainable and effective manner.

He also gave his assurance that the government will not burden the people with taxes that are beyond their means.

Follow us on our official WhatsApp channel for breaking news alerts and key updates!
GST , MTR , 12MP , Rafizi Ramli , Govt Revenue

Next In Nation

2025/26 matriculation offer results available from 10am May 21
Warisan confirms solo contest in Sabah state election
Sabah mourns former Yang di-Pertua Negeri with flags at half-mast
Three injured in accident involving lorry and cars near Gopeng
Rafizi doubts retaining PKR deputy president post
Diamond Jubilee thrills, prizes for all
Stepping up efforts to curb human-wildlife conflict
Three receive WHO award
Driver now charged with transporting stolen cattle
Newborn rescued just before being buried alive

Others Also Read