GST will be discussed next year, says Tengku Zafrul

 

The cabinet will discuss re-introducing the Goods and Services Tax (GST) only next year, Finance Minister Tengku Datuk Seri Zafrul Tengku Abdul Aziz said. -REUTERS PIC

KUALA LUMPUR: The cabinet will discuss re-introducing the Goods and Services Tax (GST) only next year, Finance Minister Tengku Datuk Seri Zafrul Tengku Abdul Aziz said.

He said the re-introduction of GST would depend on the state of the economy next year.

"No (GST will not be introduced now). We will discuss that (re-introducing GST) in cabinet, depending on the economy next year.

"So far, this year, we are not discussing it for this 2023 Budget," he said during a press conference at the Parliament building today when asked if the reduction in revenue mentioned in the budget today would mean the GST would be re-introduced.

He said the global economy was expected to grow at a moderate pace and Malaysia would not be spared.

"Of course, this year's revenue was helped by the major dividend payment by Petronas, which is RM50 billion for this budget. But for next year, we are not assuming the same amount (would be given) so that's why there is less revenue.

"In terms of tax cut, yes there will be some impact but the amount of money that is being fed to the economy is expected to give a multiplying impact, especially the tax cut for M40." - NST