IS the GST a good tax ? You are damn right it is, and as a matter of fact the World Bank tried to warn Pakatan Harapan in 2018 not to mess with the GST. READ :World Bank : Abolishing GST will affect economy
Let me tell you how it will be
There's one for you, nineteen for me'Cause I'm the taxmanYeah, I'm the taxman
Should five percent appear too smallBe thankful I don't take it all'Cause I'm the taxmanYeah, I'm the taxman
SO is reintroducing the GST in 2023 a good idea? HELL NO, because it will detabalise the economy in ways you would find it hard to believe. For one, the market is already poised to see an increase in household good between Jan and February, and secondly the world economy can crack at any given time. Introducing the GST at this point of time, won't tame inflation but will inflame the nation.
BANK Negara will like start raising interest rates in January. I said likely, because the economists I have spoken to are in agreement with me, that Anwar Ibrahim could use the implementation of GST to try and keep interest rates from not rising.
AND where will this lead us to? Well it will lead us to our own version of Erdoganomics. READ : How Turkey is bidding to transform its economy and boost its geopolitical status with Erdoganomics - despite 80% inflation