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Malaysia to conduct comprehensive review of proposed hybrid SST-GST tax system
🇲🇾 Malaysia /Economy & Trade

Malaysia to conduct comprehensive review of proposed hybrid SST-GST tax system

From Utusan Malaysia · () Malay

Translated from Malay, summarized and contextualized by DistantNews.

At a glance

News Official statement New plan
  • Malaysia's Prime Minister Anwar Ibrahim has ordered a comprehensive review of a proposed hybrid tax system.
  • The review will examine combining the Sales and Service Tax (SST) with the Goods and Services Tax (GST).
  • Finance Minister II, Amir Hamzah Azizan, is tasked with assessing the feasibility of this hybrid tax model.

Prime Minister Datuk Seri Anwar Ibrahim has directed the Ministry of Finance to conduct a thorough review of a proposal to introduce a hybrid tax system. This system would aim to merge the current Sales and Service Tax (SST) with the Goods and Services Tax (GST).

Government Spokesperson Datuk Seri Fahmi Fadzil stated that the Minister of Finance II, Datuk Seri Amir Hamzah Azizan, has been assigned the responsibility of examining the suitability and potential implementation of this combined tax structure. The directive signals a cautious approach to significant fiscal policy changes.

The review is expected to analyze the economic implications, administrative feasibility, and potential benefits or drawbacks of integrating SST and GST. This move comes as the government seeks to optimize its revenue collection mechanisms while considering the impact on businesses and consumers.

DistantNews Editorial

Originally published by Utusan Malaysia in Malay. Translated, summarized, and contextualized by our editorial team with added local perspective. Read our editorial standards.

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