Taxation system reconstructed to ensure strong revenue
SHAH ALAM: Prime Minister Datuk Seri Najib Tun Razak has reiterated that the government reconstructed the taxation system to include the Goods and Services Tax (GST) and ensure strong revenue for the country.
Our neighbour Singapore has just declared it was increasing the GST rate to nine per cent, and some others are at 10 per cent, while India, for example, has four (taxation) tiers. Datuk Seri Najib Tun Razak, Prime Minister
He said 164 countries globally had implemented the GST and Malaysia had one of the lowest rates.
“Our neighbour Singapore has just declared it was increasing the GST rate to nine per cent, and some others are at 10 per cent, while India, for example, has four (taxation) tiers,” he said at the Associated Chinese Chambers of Commerce and Industry of Malaysia (ACCCIM) Chinese New Year Grand Dinner 2018 held during the weekend.
Also present were ACCCIM president, Tan Sri Ter Leong Yap, Transport Minister, Datuk Seri Liow Tiong Lai, Plantation Industries and Commodities Minister, Datuk Seri Mah Siew Keong, Urban Well Being, Housing and Local Government Minister, Tan Sri Noh Omar, China’s Ambassador to Malaysia, Bai Tian, as well as 3,000 members of the Chinese business community.
“We have 500 items and services that have been zerorated, including those for health and education. We will continue to embark on a policy of being inclusive and fair,” said Najib.
He said as a government, the ruling coalition had delivered and would continue to deliver.
“We will be steadfast in implementing our transformation plan for the country and will not be distracted.We will not play populist politics and not promise anything we cannot fulfill,” said Najib. — Bernama