THE Institute of Strategic Analysis and Policy Research (Insap) urges the Malaysian government to review its current tax policy and reinstate the Goods and Services Tax (GST) as a superior alternative to the combination of High-Value Goods Tax (HVGT), Low-Value Goods Tax (LVGT), and Sales and Service Tax (SST).
In echoing recent remarks by Datuk Koong Ling Long, treasurer-general of the Associated Chinese Chambers of Commerce and Industry of Malaysia (ACCCIM), Insap said that it has consistently recommended GST as a better tax system and has advocated its reintroduction since last year, recognising its potential to establish a more sustainable and equitable tax system.
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