Najib: Serious implications if SST not introduced by Sept 1

KUALA LUMPUR: The government must implement the Sales and Services Tax (SST) by Sept 1 as promised, to cushion the impact from the zero-rating and subsequent abolishing of the Goods and Services Tax (GST).
Former premier Datuk Seri Najib Abdul Razak said the Pakatan Harapan (PH) government has no choice but to introduce the new tax system in place of GST as soon as possible, warning that there would be serious financial implications otherwise.
"There will be serious implications in terms of government revenue (if it is not introduced in time). Because if we don't have GST, in a year, that's about RM43 to RM44 billion in revenue lost.
"It has to be compensated in some other ways. Otherwise government cash will be seriously impacted.
"So I guess they have no choice but to introduce it. Let's see what happens," he told reporters at the Parliament lobby, here, today.
PH had in its election manifesto promised to do away with GST, which was introduced by Barisan Nasional (BN) on April 1, 2015 to replace the SST then.
Prime Minister Tun Dr Mahathir Mohamad had previously announced that SST would be reintroduced on Sept 1 to replace GST, which was zero-rated beginning June 1, following PH's election victory.
GST is also highly expected to be abolished in this session of the parliament sitting.