Reintroduce GST to boost Malaysia's revenue, says Dr Wee


  • Nation
  • Monday, 20 May 2024

IPOH: The Goods and Services Tax (GST) should be reintroduced to boost the country's revenue, says MCA President Datuk Seri Dr Wee Ka Siong.

He said that the GST is a better way to increase the country's revenue, adding that Johor Mentri Besar Datuk Onn Hafiz Ghazi also hopes for the tax to be reinstated.

"If the government wants what is best for the country, they need to admit that they have erred and re-implement GST," he said in his opening speech during a Parents Day dinner organised by Perak Wanita MCA here on Sunday (May 19).

"With GST, everything is clearer and more transparent, including input and output. 174 countries have already implemented GST," said the Ayer Hitam MP.

Onn Hafiz had said in his winding-up speech during the state assembly meeting on Sunday that he is urging the federal government to consider reimplementing GST.

Dr Wee also said people – especially those in the micro-enterprise industry – are not ready for e-invoicing.

"The small traders will find it hard to do e-invoicing when it is enforced. E-invoicing is supposed to be implemented in 2027, but the government wants to expedite it," he said.

"How do you expect small traders to issue e-invoices? There will be problems," added Dr Wee, who said that a guideline should be set up before implementing it.

The e-invoicing system will be rolled out gradually, starting on August 1 this year.

It will eventually extend to all taxpayers by July 1, 2025.

Prime Minister Datuk Seri Anwar Ibrahim had announced that the e-invoicing system is aimed at increasing the national tax revenue and will begin with taxpayers who earn an annual income exceeding RM100mil.

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Ipoh , Perak , MCA , Wanita MCA , Dr Wee Ka Siong , E-invoicing , GST

   

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