KUALA LUMPUR (Sept 13): The possibility of reintroducing goods and services tax (GST) will need to be carefully executed to ensure the people gain full benefit from the tax system, economists said.
Lead researcher (Centre of Excellence in Islamic Finance), INCEIF University, Prof Dr Baharom Abdul
KUALA LUMPUR: The possibility of reintroducing goods and services tax (GST) will need to be carefully executed to ensure the people gain full benefit from the tax system, economists said.
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THE extension of the Recovery Movement Control Order (RMCO), which is considered to be a necessary step to safeguard the people’s health and safety, is expected to adversely impact the economy.Assoc Prof Dr Baharom Abdul Hamid, director of the research management centre at the International Centre for Education in Islamic Finance, said the extension of the RMCO may be counter productive for the economy, especially since the country recorded consecutive negative growth in the previous two economic quarters.“Extending the RMCO would definitely be counterproductive and economically restrictive. We need to ensure proper growth room, especially as we are now officially under recession due to negative growth in the past two quarters.