GOVERNMENTS the world over have expended significant capital in the fight against Covid-19 and will have little choice but to expand their tax base. Malaysia, which had a fairly narrow base to start with, will need to look at the overall structure of its tax system in the longer term.
As the Organisation for Economic Co-operation and Development (OECD) has recommended, a broader review of Malaysia’s tax system will be needed to address the fiscal imbalance caused by the pandemic. All options should be on the table and thoroughly evaluated, and the goods and services tax (GST), as expected, would be part of that discussion.
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