THE Finance Ministry (MOF) today said there will be no new taxes put in place in the country until the Covid-hit economy is firmly back on track, and this includes the reintroduction of the goods and services tax (GST), The Edge Markets reports.

“For clarity, I want to make sure I start off by saying that no decision has been made on the reintroduction of GST.

“No new taxes are envisioned until (Malaysia’s economic) recovery is firmly on track,” MOF deputy secretary-general Johan Mahmood Merican was quoted as saying at the two-day Invest Asean 2022 conference, which began today.

The portal, however, reported Johan as saying that the reintroduction of GST is on the cards, in line with the ministry’s mission to consolidate the nation’s fiscal position.

“As you know, we are obviously looking to consolidate our fiscal position. Certainly GST is something we are looking at,” he said.

A GST of 6% was previously implemented back in April 1, 2015. Subsequently a sales and services tax scheme was put in place on September 1, 2018 as a replacement. – June 8, 2022.