12-15-2022, 04:25 PM
![[Image: tan-sri-Muhammad-Ibrahim-bernama.jpg]](https://s3media.freemalaysiatoday.com/wp-content/uploads/2022/12/tan-sri-Muhammad-Ibrahim-bernama.jpg)
PETALING JAYA: A former Bank Negara Malaysia (BNM) governor has urged the government to take another look at its existing taxation system to strive for a more comprehensive and equitable system.
Muhammad Ibrahim said an equitable tax system should involve value-added tax, adding that this should not become a political issue.
He said this was to ensure Malaysia has revenue options and to refrain from entering into a debt trap over the long run.
Muhammad said this was important despite the country’s debt level still being relatively low at about 50% to 60%, compared with Japan and some other countries with over 100% debt levels.
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