GST could spur economy growth, more stable source of revenue

KUALA LUMPUR: The Goods and Services Tax (GST), which is scheduled for implementation on April 1 next year, is an integral component of the strategic fiscal transformation package to fulfill the fundamental structure of the country's economy, said Minister in the Prime Minister's Department, Datuk Seri Abdul Wahid Omar.

"GST is also capable of generating a more stable source of revenue because it is less susceptible to economic fluctuations," he said in his keynote address at Channel NewsAsia Business Insights Malaysia 2014 Forum on Thursday.