Malaysia will not reintroduce goods and services tax

• Malaysia has no plans to reintroduce a goods and services tax (GST) or any other broad-based consumption tax, Prime Minister Anwar Ibrahim said on 14 Feb.
• The government will instead look to reduce subsidies enjoyed by the wealthy, Anwar, who is also finance minister, told parliament.
• Anwar, who took office in November, has ordered a review of Malaysia’s subsidy programme, prioritising aid for low-income groups, amid high government debt levels and rising living costs.
• Government debt and liabilities currently stood at MYR1.5tn, or about 82% of GDP, Anwar said.
• Anwar is expected to present a revised government budget on 24 Feb.

External Link : https://www.reuters.com/world/asia-pacific/malaysia-will-not-reintroduce-goods-services-tax-pm-2023-02-14/