KUALA LUMPUR: The government is not disputing the goods and services tax (GST), either in terms of its strengths or weaknesses, but rather the timing to implement it, said Deputy Minister of Finance II Steven Sim Chee Keong.
He said the government’s view is that the country is still in the recovery phase post-pandemic and is facing various global economic challenges due to geopolitical unrest, so in this less-than-encouraging economic situation, it is still not ready to implement the GST.
"If you do the right thing but at the wrong time, it will put a burden on the people," he told Dewan Negara today during the winding-up debate on the midterm review of the 12th Malaysia Plan in Parliament. Meanwhile, regarding the introduction of a carbon tax, Sim said any introduction of a new tax needs to be carefully studied to take into account the impact of the tax not only on economic activities in general but also on people's lives.
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