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Economic news

Malaysia government not planning to reintroduce GST, report says

08/29/2024

Less than a minute

2024.08.29 01:34

KUALA LUMPUR (Reuters) – The Malaysian government has no plans to reintroduce a goods and services tax (GST) as an alternative to removing subsidies for RON95 petrol, state news agency Bernama reported on Thursday, citing the government spokesperson.

“No, there were never discussions,” Fahmi Fadzil was quoted as saying.

Bloomberg reported on Wednesday that Malaysia was weighing the return of a broad-based consumption tax instead of implementing subsidy cuts for RON95 as the government looks to bolster its finances.

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08/29/2024

Less than a minute