BY OPALYN MOK
He said the country’s shadow economy is higher than the ranges of six to 15 per cent of gross domestic product in less developed countries to rich countries. The minister was talking at the 40th CATA Annual Technical Conference 2019 themed “Addressing the shadow economy and digitalisation in securing revenue for sustainable development”.
He also blamed Malaysia’s large shadow economy on kleptocracy by the previous Barisan Nasional federal administration. He said with effective compliance and better sharing of information with other countries that tax administrators can better enhance their systems against tax evasion and corruption.
If use GST, it won't be shadowy..
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