00:00Economist Geoffrey Williams said the goods and services tax is not suitable in the current
00:07economic climate.
00:09He was responding to Prime Minister Anwar Ibrahim, who said the GST may be the most
00:13efficient and effective taxation system, but his government's priority is to raise personal
00:19income levels before anything else.
00:21Williams said, if the GST is reintroduced, there will be a 700 ringgit increase in taxes
00:27per person, proving that the tax does not benefit ordinary citizens.
00:33He said businesses tend to prefer the GST regime, as the tax is ultimately borne by
00:38end consumers, not them.
00:41Meanwhile, Universiti Malaysia Kelantan's Abu Sufian Yaakob suggested that the GST regime
00:47be set at no more than 3 percent.
00:50He said the rate can be raised gradually over three to five years.
00:55During the 14th general election, the Dewan Rakyat repealed the GST Act 2014 and paused
01:00the SST Act 2018 in its place.
