VAT To Return In Malaysia?
In Malaysia, the Government is reportedly considering reintroducing goods and services tax.
Sales and Service Tax has applied in the country since September 1, 2018. It replaced the six percent goods and services tax – a VAT – which was effectively repealed when the rate was reduced to zero percent from June 1, 2018.
The state news agency reported that the possibility of reinstalling GST had been discussed in comments made by the Finance Minister to Maybank IB Research. The minister reportedly also discussed the potential to raise revenues through a carbon tax or digital tax, or by reining in tax breaks.
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