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VOL. 6, ISSUE 4 (2020)
Failure of goods and services tax in Malaysia
Authors
Damodar Nepram
Abstract
Malaysia introduced goods and services tax in the year 2015 replacing sales and services tax (SST). The tax proved to be a money machine and yielded the much needed income when the government revenue suffered due to a fall in petroleum prices. But it was alleged to be causing price rise and the new government which came to power soon abandoned it. VAT or GST being a very a scientific tax and more superior to SST could be reintroduced in the future after making modifications in its design. Introduction of equity in the tax rate, raising of threshold limit, spreading public awareness on the benefits of it, etc. are some steps the government can take up in the endeavor.
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Pages:31-35
How to cite this article:
Damodar Nepram "Failure of goods and services tax in Malaysia". International Journal of Commerce and Management Research, Vol 6, Issue 4, 2020, Pages 31-35
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