Other ways to increase government funds
RATHER than expanding the sales and service tax (SST), the government should consider reaching an agreement with our Asean neighbours to collectively and gradually increase corporate tax on foreign direct investors (FDI) as well as the wealth tax on the T20 (top 20% income earners) in our respective countries.
Imposing such taxes is far more effective than expanding the SST, which will only worsen the socioeconomic status of the B40 (low income) and M40 (middle income) groups one way or the other.
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