No GST hike for 2017, minister says

KUALA LUMPUR, Aug 9 ― There will be no hike in the Goods and Services Tax (GST) rate for 2017, Finance Minister II Datuk Johari Abdul Ghani assured today.

“Rest assured, there will be no increase in GST for 2017,” he told reporters after launching the National Tax Conference here.

Rumours have been circulating in recent months that the GST will be raised ahead of Putrajaya’s tabling of the 2017 annual federal budget.

GST, which currently stands at 6 per cent, came into effect on April 1, 2015.

Prime Minister Datuk Seri Najib Razak previously assured that GST will not be raised in Sarawak or any other states while campaigning during the Sarawak state elections in May this year.

Several reports had speculated that GST would be raised to 8 percent next year as Putrajaya continues to attempt to broaden its tax base and revenue.

Plummeting global crude oil prices had caused a slowdown in the Malaysian economy since GST came into force last year.

Reported by The Malay Mail online