The Goods and Services Tax (GST) will be implemented on April 1 as planned, the Finance Ministry said.
As at Tuesday, a total of 353,372 companies have registered for GST.
Any delay would only give a negative impact on Malaysiaâ€™s credit rating because the implementation of the GST is a vital step towards fiscal consolidation.
“If the country wants to remain strong in terms of future economic growth and financial position, then the GST must be implemented.This is crucial to ensure the country’s economy remains viable,” it said in a statement today.
The ministry also said there is growing awareness among the rakyat about GST with the numerous efforts to educate the people on the new tax policy.-NST