KUALA LUMPUR: There will be no second mission to bring more Palestinians to Malaysia, said Defence Minister Datuk Seri Mohamed Khaled Nordin.
PETALING JAYA: An economic adviser to Prime Minister Datuk Seri Anwar Ibrahim has called Malaysia’s declining tax revenue-to-gross domestic product as “strange”, considering the fairly strong economic growth enjoyed by the country.
“What makes it worse is that the ratio is declining, down from 14.6% in 2011,” she said, although she noted that China, Vietnam and Thailand are also facing a decline. Nurhisham, meanwhile, said that GST is not the only solution that can help widen the government’s tax revenue base. It was previously reported that the Top 20% or T20 group of income earners in the country contributed 85%, or RM33.68bil, of the personal income tax collected in 2022.If the government intends to reintroduce GST to shore up its tax revenue base, Runchana said a number of issues must first be fixed.“The good news is that with the implementation of e-invoicing, it will help on the administrative front as well,” she said.
“It is under active discussion within the government. At this moment, I cannot give any solid indications on how or when we will start RON95 subsidy rationalisation,” he added. “The latest estimate by the International Monetary Fund is that total fossil fuel use in Malaysia cost the economy RM220bil a year, of which direct cost is RM40bil.
Malaysiaeconomy Taxrevenue Fiscaloutlook GST Subsidyrationalisation Ringgitstrength Economicpolicy Taxreform
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