NEWS

No GST, BR1M with a twist in Harapan's 'spend wisely' budget

Kow Gah Chie

Published
Modified 26 Oct 2017, 3:07 am

Pakatan Harapan has unveiled its shadow budget, which promises to scrap the goods and services tax (GST) and revert to the sales and services tax (SST) within a year of winning the election.

While GST is expected to contribute RM42 billion in revenue for 2018, Harapan's plan to reinstate the previous taxation system would only net RM16.5 billion in revenue.

As for the RM25.5 billion shortfall, Harapan claimed that channelling the revenue collected into the economy would, in turn, increase federal revenue as consumer consumption and business activities would boom...

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