Irwan Serigar proposes reviving GST at lower rate to cover budget deficit

Irwan Serigar proposes reviving GST at lower rate to cover budget deficit

28/3/2020 5:18:00 PM

Irwan Serigar proposes reviving GST at lower rate to cover budget deficit

The former Treasury sec-gen says this would reduce the nation's dependence on oil revenue which is taking a hit.

-Former Treasury secretary-general Irwan Serigar Abdullah has proposed that the government revive the goods and services tax next year at a lower rate.He said this will help the government increase revenue to cover an increase in the budget deficit brought on by the Covid-19 crisis and subsequent stimulus packages issued by the government.

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"The deficit will increase, maybe to 4.8 percent or 5 percent [...] but we have ways to reduce the deficit for coming years if we take measures to increase (government) revenue."I propose that the GST be brought back next year so that we don't rely too much on oil prices," Irwan (

above) said during an online interview hosted by the Bandar Baru Bangi Online Community Facebook page.He was asked whether the RM250 billion stimulus package announced by the government yesterday and the Covid-19 crisis would impact the budget deficit.

The six percent GST had been abolished in 2018 by the Pakatan Harapan government which reverted back to the Sales and Services Tax (SST).Irwan said that if the GST is revived, the government can lower the rate to three or four percent.Implementing it next year, he said, would also allow time for the tax system and the people to prepare for a shift.

Irwan also proposed that the government embark on a restructuring exercise to redirect funds from non-people centric projects to those that the people need.This includes possibly restructuring government agencies by outsourcing certain duties in an effort to reduce the government's operating costs.

Irwan's comments came as the Covid-19 crisis caused oil prices to drop significantly below the estimated price per barrel that Budget 2020 was based on.The pandemic has also affected many businesses with Malaysians ordered to stay at home under a movement control order which restricts unnecessary trips outside.

Part of the RM250 billion stimulus announced by the government includes RM10 billion allocated for cash handouts.However, overall, the government is only expected to make a direct fiscal injection of RM25 billion under the stimulus package.Keep up with the latest information on the outbreak in the country with

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Hahahaha... Banyak betol setan dekat dia ni X guna punya orang ni Cover your ass What he plan is not relevant for this moment. GST is not mitigation, that previous government focus and you can see all Malaysian citizens not happy. Learn how Brunei government control their economy. Time to dance again with sport shoes and jeans.

Penyamun ALERT! Macam pandai bonar dio ni Hei mamak poorah TSDMujeebudeen As Salaam Tan Sri, Serigala Muncul dan dah berani kot Petanda tak baik kalau muka2 ini dah berani muncul semula dimedia. SHUT UP. Ohfakoff Mak Cik Kiah tak sabar nak bayar gst demi ekonomi Malaysia. Piss bleeping off, please. sorang2 muncul nk tunjuk pandai.....relax bro not at this time..let the goverment handle this virus first and then we look what is the action plan to develop economic back....

2MDB GST is a good tax system. Hope they bring it back. It’s really “no one left behind” with GST. 'Lembaga' sudah timbul! 🤦‍♂️ 🤫😷 Keep away this guy....serigar or serigala....Malaysian high class thief.... Bro, do u think it's appropriate to talk about GST again.....corrupt fellow has no room here....if u really wanna help....take out some of saving donate to those who are in need during this crisis.... or just shut up!!!

How bout higher tax for T20, and anyone that have salary more than 30 thousands? Do we really want advice from someone who is charged with misappropriation of govt funds? Lakukan yang terbaik untuk negara Does this guy need extra money to maintain his harem? At least he’s right to tell that there is no free money. Debt got to be repaid - rakyat selalunya kena. Growing up, I was proud about bersih, cekap & amanah. But, what have we seen?

Menyusahkan rakyat la Jangan Bimbang Itu Salah Satu Jalan Nak Tambah Pendapatan Kerajaan.. Akan Tetap Dilaksanakan Cukai Kasih Sayang Kembali Secara logiknya kerajaan akan berbuat sesuatu bagi mengurang defisit especially duit2 yg belanjankan utk mslh COVID19 dan bantuan2 yg telah diberikan. Negara perlu dana utk brkmbang, dan dana itu pastinya dari tax, dan sebahagian adalah tax yg brkaitan consumer. StayHome

Asalkan Umno-BN jadi kerajaan, Rakyat kena tipu. Running dogs of Cash is King Grand Master NajibRazak are back to use GST to rob beggars and homeless to subsidize their own lives and the lives of their aristocrats and warlords and running dogs. Kerajaan prihatin my foot. Amazing only in MY, crooks with a long string of charges hv no shame. Pls go disappear somewhere

Not now..lets finish this covid19 war first.. Wow finance minister again. Oops jaga2, SERIGAla dah muncul sorry. i'll hv to pass. your track record speak for itself. Bila nak joget pakai kasut merah. Can’t wait.. Oh, I thought he went somewhere else.😏 Aiik.. dia dah jadi suci balik ka? 🤣🤣🤣 Aik sibukla dia ni.. Dah retire tu retire jela.. Menyampah dah org tengok...

Very good idea Dey thambi.. Cilaka punya sampah dah balik meyalak Skrg coronavirus merebak mcm gila. Anjing ni mau GST? Pundek la A snake will always be a snake Ayiyoyoyooooo anae... pigi Batu Caves cari GST. Aiyooooo Dont want GST era. Pbyrn balik gst pun x ikut prosedur. Zmn NajibRazak biar lh, bri pluang org lain

We are worried shit that our jobs and SME no funding from.govt will create jobless situation. Your guidence missing. 🖕🏿 what a comeback How about SST at a lower rate? Masih boleh percaya ker ini orang.. tak ada maruah Let them do as they wish. That's what majority wants. As long as these people get single R&R govt they're happy. No eye see.

Aha! I was wondering when the government will be bringing in GST to help Mak Cik Kiah..😄 Apa apa menari duluuuuu irwann serigala's back GST means 2MDB coming.. This f***er should shut his mouth.... he’s only free from any criminal charges due to technical complication to charge him. This corrupt imbecile shall not make a comeback, MuhyiddinYassin dhzhamzah .

This is how motta rajendran will look like if he puts on weight Penyamung sdh mula bersuara...mana lobai2 maufakat penyamung penjual agama pasgok nk keluar kn fatwa baru x...? Even the thief who maintained many Red Files for the Kleptocrat and cheated businesses of GST refunds now daring to find a voice to speak up. This thief should have been denied bail too but everything is too late now.

Look who's back 🤣 How come after TSMY takes over, this guy is back, Jamal is back, Zahid wants a meeting? Jibkor Buddy Diamlah

Najib rubbishes claim PH's savings made stimulus package funding possibleThe former prime minister says PH spent more than BN and increased the country's deficit level. FMTNews PH Covid19 NajibRazak PH is jz running out of credits 2 claim. Msia is not really w/o means...jz that under such extenuating circumstances, govt of d day jz hv 2 dig real deep in 2 support d economy instead of letting it slip 2 worse. diam lah najib hang curi duit bagi kat bini hang diam lah sama aje woi NAJIB...done politik laaa now..hang ini manusia ka atau binatang tak paham paham ..negara dalam bencana teruk ..apa yg hang dok merepek ..tuuuuuuuih.

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As criticism mounts against new stimulus, former minister lauds attempt to keep deficit low | Malay MailKUALA LUMPUR, March 28 ― Former minister Tan Sri Wahid Omar lauded today the fresh round of stimulus unveiled by the Muhyiddin administration, calling it prudent and “appropriate” despite mounting criticism that most stakeholders will not benefit from it. Economists, business groups and... Another opportunist... Satu geng dgn zafrul. Malaysia ni mcm dah takde orang lain. Bagi chance kat orang muda Dan orang lain. Asyik2 geng geng ni je.. Kumpulan dia je dari dulu.. We need different thinking Abdul Wahid Omar crawling out of the woodwork. He ain't got shame for aiding the Kleptocrat by not stopping the atrocious loan to SRC International by KWAP. He was one of the Investment Panel member who aided the theft by the Kleptocrat.

Trump signs US$2 trillion recovery plan as US virus cases near 100,000Stimulus triggers the distribution of millions of relief checks as unemployment rates skyrocket. FMTNews Trump

England's lower non-league divisions and grassroots game to endLONDON (Reuters) - All English soccer below the three divisions of the fifth tier National League will end immediately due to the coronavirus pandemic with all results from the season expunged, the FA said on Thursday.

Clubs criticise decision to end English lower-tier leagues(Reuters) - South Shields is considering legal action against the Football Association after all results for the 2019-20 season below the three divisions of the fifth-tier National League were expunged due to the coronavirus crisis. Premier League too please. The league need to be restart. They’re few players infected, so we need fresh fair start. Haha