KUALA LUMPUR, February 24 – The government has no plans to implement a broad-based consumption tax such as the goods and services tax (GST). The Prime Minister, Datuk Seri Anwar Ibrahim said, this is because most people are still struggling, food inflation is over five percent, wage rates are still low, so it turns out that now is not the right place and time to introduce and implement the tax.
Therefore, Anwar said, the government is taking a more progressive approach as a new step to broaden the tax base to those who can afford it. The government plans to introduce a Luxury Goods Tax from this year with a certain value limit according to the type of luxury goods. Among them luxury watches and luxury fashion items, said the Anwar Ibrahim, Minister of Finance when presenting the 2023 Budget in the Dewan Rakyat on Friday.
