While the government said the delay is warranted by the need for more engagement, industry players said the HVGT would not become a significant contributor to the country’s tax base and have subsequently called for a better tax system in the form of the Goods and Services Tax .
“Fundamentally, low-income groups will not be affected by its implementation because they are unlikely to purchase high-value goods,” she added. Ms Lim said the ministry would be inclusive in formulating the HVGT policy by getting industry views and stakeholders’ feedback through more meetings. “It not only affects the overall Malaysian economy but also poses difficulties for businesses, especially the retail sector, due to the complicated HVGT refund system,” he said.
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