PETALING JAYA: Datuk Seri Dr Wee Ka Siong has called on the government to re-introduce goods and services tax (GST) for a better taxation policy which will not burden the B40 group.
Urging the government to postpone the planned 10% tax on low value goods (LVG) as it would burden the poor, Dr Wee said GST would solve the issue of any additional tax.
"As GST helps prevent tax evasion and is directly imposed on businesses compared to the LVG tax, where the lower group is taxed, it is much more efficient," the Ayer Hitam MP said in a five-minute video posted on both TikTok and Facebook.
He said LVG tax also had legal implications which the government needed to look at closely as most of the goods were not local but foreign, and the B40 group could easily buy them online.
"It's not the time for LVG tax as the economy hasn't completely recovered and more time should be given for its implementation.
"However if the government wants to go ahead then the best way is to have selective LVG taxation where it lists all the local companies on which the 10% could be imposed, and let the B40 group do purchasing of foreign goods online," he added.
