PUTRAJAYA: Malaysia has done the right thing by imposing the Goods and Services Tax (GST), evidenced by the fact that two other countries are about to do the same.
Prime Minister Datuk Seri Najib Razak said the two other countries are India and Saudi Arabia, with India planning to impose a 23 per cent GST.
“It is a bold move. It is not wrong. It is the right thing to do," he said at the Finance Ministry's programme to celebrate its retirees today.
Also present were Second Finance Minister Datuk Seri Johari Abdul Ghani and Treasury Secretary-General Tan Sri Mohd Irwan Serigar Abdullah.
Najib, who is also Finance Minister, said the country must have structural reforms even if it includes having to make tough decisions.
“Malaysia has the political will and courage to make structural reforms to resolve any weaknesses,” he said.
Without strong fundamentals and inability to plug leakages, Najib said, Malaysia would not be able to secure strong growth.