Dr M: Gov’t may refine SST and introduce new tax regime
KUALA LUMPUR: Prime Minister Tun Dr Mahathir Mohamad said that the government may introduce new taxes, on top of fine tuning the existing Sales and Services Tax, to generate more revenue for the nation’s coffers.
“We will improve on this. The government will also give more powers to the Inland Revenue Board and may be forced to introduce new taxes that will not burden the people.
“Previously, we did not implement the tax system properly and many had escaped from paying tax,” said Mahathir at a press conference after launching the Shared Prosperity Vision 2030 (SPV2030) in Kuala Lumpur today.
He was responding to questions on what would be the government do to increase its tax revenue and enhance the tax system as stated in SPV2030.
Recently, Mahathir had stated that the government may reintroduce the Goods and Services Tax if the public supports it.
His statement was also backed by Finance Minister Lim Guan Eng, who said that the final decision of the matter will be made by the Pakatan Rakyat presidential council.
By G Vinod
