KUALA LUMPUR: With the Goods and Services Tax (GST) has been proven to be an excellent mechanism to generate revenue for the country, Datuk Seri Dr Wee Ka Siong says he welcomes the government's willingness to consider the idea of reinstating the taxation method.
"I welcome the Economy Minister's announcement yesterday that he is willing to consider the GST. I am relieved," Dr Wee said while debating the 12th Malaysia Plan mid-term review in Parliament on Tuesday .Dr Wee said although Barisan Nasional was once criticised for implementing the tax system, it has now been proven that GST effectively adds income to government coffers.
Welcoming the initiatives on the 12MP mid-term review, Dr Wee said it was important to review the income classification for the T20 group regarding the disbursement of targeted subsidies. Citing examples, Dr Wee said going solely by household income, a couple who are civil servants or in the M40 group would be pushed to the T20 category.
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