BN moots return of GST at lower rate

Nabihah Hamid Nabihah Hamid Updated 7 years ago · Published on 1 Nov 2018 5:36PM · 4 Comments

Barisan Nasional’s shadow finance minister Khairy Jamaluddin proposes several new taxes, including a soda tax, plastic tax, capital gains tax, and remittance tax. – The Malaysian Insight pic by Kamal Ariffin, November 1, 2018.

BARISAN Nasional wants Putrajaya to bring back the goods and services tax, but with a lower rate of 3%, as a way to boost its revenue.

BN’s shadow finance minister Khairy Jamaluddin also proposed several new taxes.

“If you look at the national sources of income and revenue, we estimate that we could collect RM247 billion through new income and taxes, and some reprioritising of the national expenditure,” he said during a press conference in Parliament today.

Among the new taxes BN is proposing are a soda tax, plastic tax, capital gains tax, and remittance tax.

“BN proposes that the GST be brought back with a lower rate. We want a larger number of goods and services exempted from it.

The coalition is calling its alternative budget the “Inisiatif Ekonomi Rakyat” (People’s Economic Initiative).

Elaborating on its other tax proposals, Khairy said BN proposed for a soda tax to be fixed at 25 sen per litre, and a 6% tax for each remittance transfer.

He said BN wanted a carbon tax, pegged at RM10 per metric tonne, to be imposed on factories which emitted greenhouses gases of at least 25,000 metric tonnes.

Khairy said a plastic bag tax of 15 sen would bring in around RM12.46 million a year for the government.

The Rembau MP said people would accept these new taxes if they were pitched properly. – November 1, 2018.

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Comments

  • Alamak bodohnya. GST in your time stood for a slush fund to cover up a jibbye and pukimah plundering of state coffers. U gotta kidding to be hanging on to a tainted acronym.

    Posted 7 years ago by Arshad Lazim · Reply

  • Yes. 3% but had Najib won GE14, he would have chosen the easy way out with at least 7-10% instead

    Posted 7 years ago by Oli oh · Reply

  • GST is a blanket tax and not a fair tax. Imagine, the retirees, jobless, the sick ones, children, housewives, who have no income and for the goods they consume they have to pay this tax.on the other hand, what is this meagre 3% to the rich people? You will see a vast difference of spending patterns by people of rich and poor due to this type of tax.

    Posted 7 years ago by Tanahair Ku · Reply

  • In a neighbouring country which implements GST, the poor people are given GST rebates. This act is hypocritical and the government is often made a laughing stock for cheating the citizens as they tend to tax more than they rebate.

    tock

    Posted 7 years ago by Tanahair Ku · Reply