Relook, review current tax policy and reinstate GST

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.