report stated that a year after Malaysia shifted its consumption tax system back to the Sales and Services Tax , a lot more still needs to be done to boost government revenue.
One of the main reasons is that the consumer price index basket for goods under SST is much lower, at 37% compared to the 60% during the GST era. To boost collection, the government has proposed to introduce a new band for taxable income in excess of RM2 million, taxed at 30%, which is a 2% point increase from the current 28%, during the 2020 Budget. It will also be implementing SST on digital services, beginning Jan 1 at 6%.
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