Govt looking at alternatives to wealth tax, may bring back GST, says Deputy Finance Minister II

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KUALA LUMPUR: The government is looking at alternatives to a wealth tax, including a Goods and Services Tax (GST), to raise funds for its coffers, says Deputy Finance Minister II Mohd Shahar Abdullah.

"On a wealth tax, the government has no intention at all to implement it at the present moment," he said when answering Wong Shu Qui in the Dewan Rakyat on Thursday .

"The study will also cover the effects on the economy, cost of living and the cost of goods, including the black economy," he added. Shahar also noted that although the nation's gross domestic product shrank by 17% in the second quarter of this year, there are positive indicators that the economy would recover and grow by between 5.5% and 6% in 2021.

 

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We cannot depend oil revenue from Petronas anymore. Oil consumption will be on decline once Western and Advanced countries start banning ICE cars. GST or VAT is the best option to collect more revenues to fire up treasury.

This government didn't really help the rakyat when the pandemic strikes,now they are adding to the torment with new taxes.lnfact we have to dig into our EPF to survive and we intend to make known our grievance in GE15

Haaaa tepokkkk

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