Exclusion of GST raises concerns

THE unveiling of Malaysia’s financial roadmap for 2024 last month has triggered extensive discussions within financial circles. While the document introduces a range of ambitious financial strategies, the significant exclusion of the goods and services tax (GST) raises concerns about the sustainability and effectiveness of the proposed measures.

Budget 2024 reveals a complex set of intentions marked by a 10% capital gains tax and a 5% to 10% high-value goods tax. While these may appear to be the government’s efforts to strengthen revenue collection, their long-term viability is uncertain.