Consider reinstating the goods and services tax (GST) to increase Malaysia’s coffers, said Bera MP Datuk Seri Ismail Sabri Yaakob.
The former prime minister said that GST was proven to be far more effective, transparent and fair compared to the current sales and service tax (SST).
Read more at https://tinyurl.com/5n79yfak
WATCH MORE: https://thestartv.com/c/news
SUBSCRIBE: https://cutt.ly/TheStar
LIKE: https://fb.com/TheStarOnline
The former prime minister said that GST was proven to be far more effective, transparent and fair compared to the current sales and service tax (SST).
Read more at https://tinyurl.com/5n79yfak
WATCH MORE: https://thestartv.com/c/news
SUBSCRIBE: https://cutt.ly/TheStar
LIKE: https://fb.com/TheStarOnline
Category
🗞
NewsTranscript
00:00 (In Indonesian)
00:03 (In Indonesian)
00:05 (In Indonesian)
00:07 (In Indonesian)
00:09 (In Indonesian)
00:11 (In Indonesian)
00:13 (In Indonesian)
00:15 (In Indonesian)
00:17 (In Indonesian)
00:19 (In Indonesian)
00:21 (In Indonesian)
00:23 (In Indonesian)
00:25 (In Indonesian)
00:27 (In Indonesian)
00:29 (In Indonesian)
00:31 (In Indonesian)
00:33 (In Indonesian)
00:35 (In Indonesian)
00:37 (In Indonesian)
00:39 (In Indonesian)
00:41 (In Indonesian)
00:43 (In Indonesian)
00:45 (In Indonesian)
00:47 (In Indonesian)
00:49 (In Indonesian)
00:51 (In Indonesian)
00:53 (In Indonesian)
00:55 (In Indonesian)
00:57 (In Indonesian)
00:59 (In Indonesian)
01:01 (In Indonesian)
01:03 (In Indonesian)
01:05 (In Indonesian)
01:07 (In Indonesian)
01:09 (In Indonesian)
01:11 (In Indonesian)
01:13 (In Indonesian)
01:15 (In Indonesian)
01:17 (In Indonesian)
01:19 (In Indonesian)
01:21 (In Indonesian)
01:23 report the low interest rate, which is 12% from the GDP.
01:31 This percentage is much lower than the average rate reported by the countries with low interest rates,
01:41 which is 18% from the GDP,
01:46 compared to the countries with economic development.
01:53 The government's proposal to increase the sales and services interest rate from 6% to 8%
02:03 is considered an inaccurate measure compared to other more efficient distribution systems.
02:14 Although this increase does not involve food and drink,
02:21 it must be understood that this increase will give a chain effect
02:27 to all aspects that will further push the increase to other goods.
02:34 This is because the traders will not absorb the interest rate and their export costs.
02:41 I am once again convinced that it is time for the government to reconsider the GST
02:57 that was imposed in 2018 by the Government of the Hope Alliance.
03:03 The GST has proven to be much more accurate, transparent and fair than the SST.
03:12 When the GST was abolished, our country lost 20 to 30 billion dollars a year
03:25 due to the black economy that could be implemented.
03:30 We have observed the payment of interest and we expect many people to not pay interest
03:40 as they should.
03:43 The increase in the SST interest rate of 2%
03:49 adds 3 billion dollars to the country.
03:53 Even the international audit firm, Deloitte, has observed that the increase of 2% SST
04:04 can only add up to around 900 million ringgit.
04:11 Is this in line with the effects that the people will face?
04:17 [BLANK_AUDIO]