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Pakatan Harapan unveils 'Spend Wisely, Cut Taxes' alternative budget

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akatan Harapan has unveiled its shadow budget, which promises to scrap the goods and services tax (GST) and revert to the sales and services tax (SST).
While GST is expected to contribute RM42 billion in revenue for 2018, Harapan's plan to reinstate the previous taxation system would only net RM16.5 billion in revenue.
As for the RM25.5 billion shortage, Harapan claimed that channelling the revenue collected into the economy would, in turn, increase federal revenue as consumer consumption and business activities would boom.
They said they are also determined to eliminate RM20 billion from wastage and corruption by slashing the budget of the Prime Minister's Department.
The coalition hopes to collect an additional RM2.81 billion in corporate income tax (Cita), RM1.46 billion in excise duties on goods (except motor vehicles) and RM1.82 billion in real property gains tax (RPGT).
Harapan also expects a 20 percent increase in car sales following the abolishment of GST, which would contribute to RM1.93 billion in revenue through the collection of import tax, excise and motor vehicle licence fees.
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