Small and Medium Enterprises Association urges government to bring back GST or introduce VAT theSun theSundaily news SunBiz business tax GST credit
Small and Medium Enterprises Association has urged the government to exercise tax efficiency without distorting equitability and to consider introducing value-added tax or bringing back goods and services tax in 2024.
He also suggested that refund of excess tax to small and medium enterprises should not take more than 30 days, which otherwise, the government should pay interest on late refund. “The present scenario has changed as entertainment and leisure activities such be encouraged and not stifled with taxes. Eventually, the consumer ends up paying a higher price for such activities as the tax is passed through to them,” Yeoh said.
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