28-08-2013, 05:01 PM
might impact consumer spending in M'sia...
Malaysia may include sales tax in Oct budget to trim deficit
KUALA LUMPUR – Malaysia’s government may include a 4 per cent goods and services tax (GST) in its upcoming October budget to tackle a fiscal deficit that has widened to 14.9 billion ringgit (S$5.7 billion), a local newspaper said on Wednesday.
The Malaysian Reserve newspaper quoted the Finance Ministry’s secretary general, Mr Mohd Irwan Serigar Abdullah, saying several economic reforms to bolster the country’s fiscal position were being discussed.
“I am not ruling out (GST), it is in the pipeline. But let us wait for the budget. It is a whole package for everybody,” Mr Mohd Irwan was quoted as saying.
He added that the fiscal policy committee is exploring several measures including rationalising subsidies and curbing government spending.
http://www.todayonline.com/business/mala...im-deficit
Malaysia may include sales tax in Oct budget to trim deficit
KUALA LUMPUR – Malaysia’s government may include a 4 per cent goods and services tax (GST) in its upcoming October budget to tackle a fiscal deficit that has widened to 14.9 billion ringgit (S$5.7 billion), a local newspaper said on Wednesday.
The Malaysian Reserve newspaper quoted the Finance Ministry’s secretary general, Mr Mohd Irwan Serigar Abdullah, saying several economic reforms to bolster the country’s fiscal position were being discussed.
“I am not ruling out (GST), it is in the pipeline. But let us wait for the budget. It is a whole package for everybody,” Mr Mohd Irwan was quoted as saying.
He added that the fiscal policy committee is exploring several measures including rationalising subsidies and curbing government spending.
http://www.todayonline.com/business/mala...im-deficit