Revising Sst A Pragmatic Approach To Fiscal Sustainability


 



The government’s broadening of the tax base by incorporating more sectors into the Sales and Service Tax (SST) regime reflects a pragmatic approach to fiscal sustainability, according to the Chartered Tax Institute of Malaysia (CTIM).
Its president Soh Lian Seng noted that the rationale for the revision and expansion of SST includes strengthening the country’s fiscal position to better support the well-being of the people and making SST a more progressive and targeted tax.
“CTIM views this move as a timely and strategic use of indirect taxation to enhance government revenue without resorting to further direct taxes or reintroducing the Goods and Services Tax (GST) at this juncture,” he said in a statement today.
Earlier, Finance Minister II Amir Hamzah Azizan announced that the government will implement a targeted revision of sales tax rates and an expansion of the service tax’s scope, effective July 1.
According to Soh, the institute will continue to analyse the gazette orders and provide feedback should any inconsistencies with current legislation or practices arise.
ADSHe said CTIM is committed to helping the business community understand the government’s initiatives.
“At the same time, we will bring forward suggestions for enhancements where appropriate, in the spirit of collaboration and shared national interest.
“The clarity through gazette orders and the targeted approach are commendable. We encourage continued engagement and practical support to help businesses adapt,” he added.
To ensure a smooth transition, CTIM proposed that the government establish dedicated support channels such as hotlines, email, or live chat, manned by knowledgeable personnel, to provide timely responses and minimise compliance risks.
“CTIM welcomes the issuance of transitional rules and guidance to support the implementation process. While these are helpful, we anticipate that further engagement with the authorities will be necessary to address practical issues that may emerge,” he said.
- Bernama


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