GST not suitable for current economy, says economist

Free Malaysia Today

Geoffrey Williams calls the goods and services tax regressive and burdensome for lower-income citizens.  Read More:  https://www.freemalaysiatoday.com/category/nation/2024/10/15/gst-not-suitable-for-current-economy-says-economist/  Laporan Lanjut:  https://www.freemalaysiatoday.com/category/bahasa/tempatan/2024/10/15/keadaan-ekonomi-tak-sesuai-pm-buat-keputusan-tepat-berkait-gst/  Free Malaysia Today is an independent, bi-lingual news portal with a focus on Malaysian current affairs.    Subscribe to our channel - http://bit.ly/2Qo08ry   ------------------------------------------------------------------------------------------------------------------------------------------------------ Check us out at https://www.freemalaysiatoday.com Follow FMT on Facebook: https://bit.ly/49JJoo5 Follow FMT on Dailymotion: https://bit.ly/2WGITHM Follow FMT on X: https://bit.ly/48zARSW  Follow FMT on Instagram: https://bit.ly/48Cq76h Follow FMT on TikTok : https://bit.ly/3uKuQFp Follow FMT Berita on TikTok: https://bit.ly/48vpnQG  Follow FMT Telegram - https://bit.ly/42VyzMX Follow FMT LinkedIn - https://bit.ly/42YytEb Follow FMT Lifestyle on Instagram: https://bit.ly/42WrsUj Follow FMT on WhatsApp: https://bit.ly/49GMbxW  ------------------------------------------------------------------------------------------------------------------------------------------------------ Download FMT News App: Google Play – http://bit.ly/2YSuV46 App Store – https://apple.co/2HNH7gZ Huawei AppGallery - https://bit.ly/2D2OpNP  #FMTNews #AnwarIbrahim #GST #SST

Transcript

00:00Economist Geoffrey Williams said the goods and services tax is not suitable in the current

00:07economic climate.

00:09He was responding to Prime Minister Anwar Ibrahim, who said the GST may be the most

00:13efficient and effective taxation system, but his government's priority is to raise personal

00:19income levels before anything else.

00:21Williams said, if the GST is reintroduced, there will be a 700 ringgit increase in taxes

00:27per person, proving that the tax does not benefit ordinary citizens.

00:33He said businesses tend to prefer the GST regime, as the tax is ultimately borne by

00:38end consumers, not them.

00:41Meanwhile, Universiti Malaysia Kelantan's Abu Sufian Yaakob suggested that the GST regime

00:47be set at no more than 3 percent.

00:50He said the rate can be raised gradually over three to five years.

00:55During the 14th general election, the Dewan Rakyat repealed the GST Act 2014 and paused

01:00the SST Act 2018 in its place.

Category

Transcript

Be the first to comment

Recommended