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    GST Is The Right Way Forward, Says Nazir - The Star

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    Tan Sri Nazir Razak believes that GST is the right approach for Malaysia but must be implemented properly. He says the previous government made a mistake by removing GST instead of lowering the rate and providing more exemptions for low-income groups. Nazir also argues that Malaysia needs to increase taxes for wealthier groups and introduce a windfall tax to generate more government income, in order to continue spending to help the poor. Prime Minister Ismail Sabri Yaakob has expressed that the government is keen on reintroducing GST as one of limited options to replenish federal coffers.

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    GST Is The Right Way Forward, Says Nazir - The Star

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    Elaine Ling
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    Tan Sri Nazir Razak believes that GST is the right approach for Malaysia but must be implemented properly. He says the previous government made a mistake by removing GST instead of lowering the rate and providing more exemptions for low-income groups. Nazir also argues that Malaysia needs to increase taxes for wealthier groups and introduce a windfall tax to generate more government income, in order to continue spending to help the poor. Prime Minister Ismail Sabri Yaakob has expressed that the government is keen on reintroducing GST as one of limited options to replenish federal coffers.

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    GST is the right way forward, says Nazir _ The Star

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    Tan Sri Nazir Razak believes that GST is the right approach for Malaysia but must be implemented properly. He says the previous government made a mistake by removing GST instead of lowering the rate and providing more exemptions for low-income groups. Nazir also argues that Malaysia needs to increase taxes for wealthier groups and introduce a windfall tax to generate more government income, in order to continue spending to help the poor. Prime Minister Ismail Sabri Yaakob has expressed that the government is keen on reintroducing GST as one of limited options to replenish federal coffers.

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    5 views2 pages

    GST Is The Right Way Forward, Says Nazir - The Star

    Uploaded by

    Elaine Ling
    Tan Sri Nazir Razak believes that GST is the right approach for Malaysia but must be implemented properly. He says the previous government made a mistake by removing GST instead of lowering the rate and providing more exemptions for low-income groups. Nazir also argues that Malaysia needs to increase taxes for wealthier groups and introduce a windfall tax to generate more government income, in order to continue spending to help the poor. Prime Minister Ismail Sabri Yaakob has expressed that the government is keen on reintroducing GST as one of limited options to replenish federal coffers.

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    GST is the right way forward, says Nazir


    By ALIZA SHAH

    NATION

    Friday, 03 Jun 2022 7:55 PM MYT

    KUALA LUMPUR: The Goods and Services Tax (GST) must be implemented in the right way, says banker
    Tan Sri Nazir Razak.

    Nazir, who was asked about the government’s move to reintroduce goods and services tax (GST), said
    Malaysia should take another look at its taxation system in order to increase its income.
    Privacy - Terms

    ALSO READ: Malaysians hope new GST will be lower than 6%


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    “GST is the right way forward but it must be implemented in the right way, it was a mistake by Pakatan
    (Harapan) to remove GST; they should have reduced (its rate) and given more exemptions to the lower-
    income groups.

    “In terms of the situation today on rising prices of goods, my view is we need to take another look at how
    Malaysia taxes people... we need to increase taxes for the wealthier group.

    ALSO READ: Reintroducing the GST as a part of tax reform

    "Malaysia should introduce windfall tax because my worry is the government will continue to spend, but
    it has not done much to increase income.

    STARPICKS

    2-DAY PERKESO JOB FAIR A RELIEF FOR THE UNEMPLOYED

    “Many countries realise that if they don't increase their income by increasing tax, they cannot spend to
    help the poor,” he said in a discussion on Malaysia’s future challenges at the World Trade Centre here on
    Friday (June 3).

    ALSO READ: PM says now’s not time for GE, moots GST instead

    Prime Minister Datuk Seri Ismail Sabri Yaakob previously said the government was keen to bring back
    GST.

    He said the government was aware of the negative perception towards GST but there were limited
    options for replenishing the Federal coffers.

    GST was implemented on April 1, 2015 at a standard rate of 6% and was later zero-rated in 2018.

    Related stories:

    Malaysians hope new GST will be lower than 6%

    Reintroducing the GST as a part of tax reform

    PM says now’s not time for GE, moots GST instead

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