SMEs prefer GST over SST, says think tank

AN INDEPENDENT think tank wants the government to reintroduce GST in place of the SST, saying GST was the preferred choice of taxation for various business associations due to its transparency and fairness.

Insap said it was of the view that the SST and proposed new taxes such as the Low-Value Goods (LVG) and High-Value Goods (HVG) taxes, introduced in January 2024 and from March 1, respectively, disproportionately impact vulnerable groups.