No plans to increase GST rate, says second Finance Minister

No plans to increase GST rate, says second Finance Minister

PUTRAJAYA, Aug 16 — The government will not increase the Goods and Services Tax (GST) rate although a revenue shortfall of RM30 billion is expected this year from the oil and gas industry, said Second Finance Minister Datuk Johari Abdul Ghani.  

He said the government was committed to assisting the lower and middle-income group and manage the fiscal deficit efficiently which would than translate into steady economic growth.

 “Although the government is facing a difficult time due to revenue loss from the oil and gas industry, the government will not increase the GST rate,” he told reporters after witnessing the signing of an agreement for the proposed issue of Sukuk Wakalah for the Setiawangsa-Pantai Expressway project here today

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