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MALAYSIA: SST EASES PEOPLE’S BURDEN PM MAHATHIR

KUALA LUMPUR, Malaysia Dr Mahathir Mohamad said the Sales and Service Tax (SST) would be less burdensome to the people than the Goods and Services Tax (GST) imposed by the previous government.

The Prime Minister said in terms of total collection, the SST would bring in a revenue of only RM20 to RM25 billion compared with RM42 billion under the GST.

“This means the people will enjoy savings of as much as RM20 billion with the SST implementation,” he told reporters after chairing the Parti Pribumi Bersatu Malaysia (Bersatu) Supreme Leadership Council Meeting here today.

Dr Mahathir denied a claim the SST would increase the prices of goods as many items would not be taxed.

Many items that were previously taxed under the GST will not be subjected to the SST, thus easing the people’s burden, he added.

Dr Mahathir said the GST was used to amass wealth, and the people were forced to pay taxes on their daily necessities.

“There is no basis to claim that SST will cause prices to increase as goods will be be taxed 16 per cent or 10 per cent as a whole. Certain items are not subject to SST at all and some will be charged only five per cent or 10 per cent, depending on goods involved,” he said.

On grouses aired by professional bodies for not being consulted by the government in drafting the SST Bill, the Prime Minister said they could meet the Council of Eminent Persons (CEP) to give their views.

However, Dr Mahathir said the CEP had held many meetings with stakeholders before making its decisions.–NNN-BERNAMA

Source: NAM News Network

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Home / Business & Finance / MALAYSIA: SST EASES PEOPLE’S BURDEN PM MAHATHIR

MALAYSIA: SST EASES PEOPLE’S BURDEN PM MAHATHIR

KUALA LUMPUR, Malaysia Dr Mahathir Mohamad said the Sales and Service Tax (SST) would be less burdensome to the people than the Goods and Services Tax (GST) imposed by the previous government.

The Prime Minister said in terms of total collection, the SST would bring in a revenue of only RM20 to RM25 billion compared with RM42 billion under the GST.

“This means the people will enjoy savings of as much as RM20 billion with the SST implementation,” he told reporters after chairing the Parti Pribumi Bersatu Malaysia (Bersatu) Supreme Leadership Council Meeting here today.

Dr Mahathir denied a claim the SST would increase the prices of goods as many items would not be taxed.

Many items that were previously taxed under the GST will not be subjected to the SST, thus easing the people’s burden, he added.

Dr Mahathir said the GST was used to amass wealth, and the people were forced to pay taxes on their daily necessities.

“There is no basis to claim that SST will cause prices to increase as goods will be be taxed 16 per cent or 10 per cent as a whole. Certain items are not subject to SST at all and some will be charged only five per cent or 10 per cent, depending on goods involved,” he said.

On grouses aired by professional bodies for not being consulted by the government in drafting the SST Bill, the Prime Minister said they could meet the Council of Eminent Persons (CEP) to give their views.

However, Dr Mahathir said the CEP had held many meetings with stakeholders before making its decisions.–NNN-BERNAMA

Source: NAM News Network

Check Also

MALAYSIA: AT LEAST 200 MORE FLIGHTS BRINGING TOURISTS TO SABAH STATE

KOTA KINABALU, Sabah state, Malaysia Aug 14 (NNNBernama)At least 200 international charter and extra flights, from now until March next year, will bring an influx of tourists to Sabah from China, South Korea and Japan, said Tourism, Culture and Environ...