Govt not considering GST return while incomes are low, living costs high

Key takeaways

Malaysia's Finance Minister II stated that the government will not reintroduce the Goods and Services Tax until incomes rise and living costs decrease. The administration is currently focusing on refining the Sales and Service Tax to ensure a more progressive approach that considers public affordability and business compliance costs.

• The government will not reintroduce GST until incomes reach a reasonable level and living costs are manageable.
• SST is preferred over GST because it allows for a more progressive and targeted taxation approach.
• SST involves lower compliance costs, with only 130,000 registered businesses compared to 700,000 under GST in 2018.

Summarised automatically by AI from the original article by New Straits Times. AI can make mistakes, so check the original for details.