The previous government withdrew the Goods & Service Taxes (GST) back in June 2018, and it was replaced with Sales & Service Taxes (SST) a few months later. Former Ministry of Transport, Wee Ka Siong recently shared why he thinks GST should make a comeback. On his Facebook post, Wee suggested 3 proposals for the […]
The previous government withdrew the Goods & Service Taxes back in June 2018, and it was replaced with Sales & Service Taxes a few months later.
Previously, Malaysian consumers were charged with a 6% of GST but this time, Wee said that the amount can be reduced to 4%. In an effort to improve the mechanism, Wee also suggested to have zero rated, an exemption list and enable cash handout.Next, Wee mentioned imbalance cost pass-through which has affected the small, micro and medium enterprises.
In his video, he called for the government to lower the ICPT, before those in the industry suffer the consequences from higher expenses, higher cost and longer maternity leave.Last but not least, Wee suggested to raise the individual tax exemption from RM9,000 to RM12,000 due to the inflation rate.
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