MCA again urges govt to reinstate GST for stable income source
“Using the SST system but adopting electronic invoicing increases the burden on businesses and does not effectively increase tax revenue”
(TMI) – MCA has once again called on the government to reintroduce the goods and services tax (GST) to boost government revenue and deliver more benefits to the people.
Pakatan Harapan abolished the GST in 2018 to restore the sales and services tax (SST). The present government has recently increased the SST rate from 6% to 8%, and introduced new taxes.
MCA Youth chairman Ling Tian Soon said the GST will create a win-win situation for both the rakyat and the government.
“Restoring the GST will ensure that the government has a stable source of income to drive more people-oriented programmes and national economic growth,” Ling said in a statement.
He also pointed out that the Johor government too has called for the reinstatement of the GST.
In his winding-up speech at the Johor assembly yesterday, Menteri Besar Onn Hafiz Ghazi urged the federal government to consider reintroducing the GST as an additional source of income to support the people.
Members of the business community, chambers of commerce and economic experts have also made similar calls.
MCA had in its annual general assembly passed a resolution recommending the government reinstate the GST with a revised tax rate set at 4% to increase federal revenue and enhance economic development.
“It is time for the unity government to show it possesses the courage to reform and manage the country’s economy in a rational, scientific and effective manner,” said Ling, who is also a Johor state exco in charge of health and environment.
