Malaysia's consumption tax revenue to be half previous level
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Kuala Lumpur
MALAYSIA'S new tax on some goods and services, which takes effect on Saturday, is expected to collect less than half the revenue raised by a broader one imposed by the former government, the finance minister said on Thursday.
In early August, Prime Minister Mahathir Mohamad's government repealed the unpopular 6 per cent goods and services tax (GST) that took effect in April 2015. Dr Mahathir had promised to scrap GST if his coalition won the May general election.
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