Malaysia has no plans to reintroduce a goods and services tax (GST) or any other broad-based consumption tax, Prime Minister Anwar Ibrahim says. The government will instead look to reduce subsidies enjoyed by the wealthy.
Malaysia offers subsidies to all citizens, with transport fuel and cooking oil accounting for the biggest expense. It also subsidizes electricity, sugar, and flour.
Malaysia’s debt and liabilities currently stand at 1.5 trillion ringgit ($114.86 billion), or about 82% of GDP.
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