Luxury goods tax not an alternative to GST: Finance Ministry

: The luxury goods tax announced in Budget 2023 is not an alternative to the goods and services tax , said Deputy Finance Minister II Steven Sim Chee Keong .

“Apart from that, we are also studying the tax system, whether to introduce a new tax or widen the scope of the existing tax system,” he said in his winding-up debate on the Supply Bill 2023 in Dewan Negara. Sim said the government has not decided on the GST as a change in tax policy would have a big impact on the economy and the cost of living.

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