Let’s broaden our tax base with GST

Published: Tuesday October 8, 2013 MYT 12:00:00 AM 

Updated: Tuesday October 8, 2013 MYT 8:28:30 AM

WE refer to the report, “Anwar: There’ll be protest if GST is imposed” (The Star, Oct 7).

What is wrong with the Goods and Services Tax (GST) when more than three quarters of the world are implementing it? They cannot be all wrong.

Malaysia has an extremely low percentage of personal income taxpayers – as low as 5%. Only 1.4 million Malaysians pay income tax.

For some reason, Petronas accounts for as much as one-third of the Federal Government’s revenue; that is not healthy at all. What if the petrol prices drop drastically?

International rating agencies have warned us that our sovereign rating will be downgraded if we continue with our old ways. That is spending (especially on subsidies) beyond our means.

Let’s be rational with our spending and let’s broaden our tax base.

Other than essential goods and services, let’s chip in and pay our due. GST is the way to go.

PHILIP WONG PAK MING

President, Kuching Canadian

Graduates’ Association