‘Give enough time for SST debates’
KUANTAN: The tabling of the Sales and Services Tax (SST) Bill in the Dewan Rakyat must be done with enough time allocated for debates, and should not be rushed.
Paya Besar member of parliament Mohd Shahar Abdullah said this was because the bill involved the economy and had an impact on the rising cost of living and, as such, should be debated carefully.
Shahar, who is also Umno Youth information chief, said this was all the more important given that the Customs Department’s recent announcement that SST would have different rates of zero, five and 10 per cent, something which has yet to be attempted in Malaysia.
“The Finance Ministry should provide opposition MPs with a full briefing on SST, so that we can understand and see the direction of this taxation system, and evaluate for ourselves whether it will burden the people or improve the nation’s economy.”
On July 16, Finance Minister Lim Guan Eng had announced that SST, which will be reintroduced on Sept 1, would be set at 10 per cent for sales and six per cent for services.
He said the SST Bill was expected to be tabled in Parliament next month to replace the Goods and Services Tax (GST). SST, he said, was projected to bring in RM4 billion in revenue.
Lim had said SST, together with rising crude oil prices and extra dividends from government-linked companies, would bring in an additional RM14.4 billion in revenue for the government to make up for the loss of RM21 billion from the zero-rating of GST.
Abolishing GST and reintroducing SST was among Pakatan Harapan’s key pledges, which saw it sweep into power in the 14th General Election.