KUALA LUMPUR. Former Bank Negara Governor, Tan Sri Zeti Aziz said there is more vibrancy in the market with better spending power, following the move to zero-rate the Goods and Services Tax.
“Many people are saying that, there is a great vibrancy now... People are spending more now," she said when meet at Menara IIham here today.
The former governor is a member in the Council of Eminent Persons, which had been tasked to look into the country's economy and other matters.
She was asked to comment on talks that, retailers and consumer have started to benefit after GST was set at zero per cent.
However, Zeti said: “I hope the retailers will pass on the benefits to consumers."
Earlier Zeti and other council members met captains of the retail industry to get their views on the zero-rate GST and the Sales and Services Tax (SST).
The GST, which was introduced in 2015 by the previous government at the rate of six per cent, is set to be abolished and replaced with the Sales and Services Tax (SST) from September 1 this year.
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