Shah Alam MP Azli Yusof said the government should seriously consider reintroducing the consumption tax.
“If the name GST makes people uncomfortable, we can rename it value added tax or anything else, as done by many countries around the world. A total of 170 countries use the VAT method to ensure the best revenue,” Azli said during the debate on the 2024 supply bill. Azli said the government would be able to produce a budget surplus if the fiscal deficit was reduced by an average of 0.5% to 0.6% of gross domestic product annually over the next 10 years.
However, in the lead-up to the 2024 budget announcement, the government had faced many calls to reintroduce GST to increase national revenue. Instead, prime minister Anwar Ibrahim announced an increase in the SST rate, but excluded a range of items and services, such as food and beverages and telecommunications.
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