KUALA LUMPUR: The 2025 Budget tabled in the Dewan Rakyat today did not present a clear framework or strategy regarding Malaysia's economy for 2025, said Datuk Dr Radzi Jidin.
The Putrajaya member of parliament said that while some economic data was mentioned, the overall framework concerning the country's economic structure for 2025 remained unclear.
He added that the lack of detailed information on several important matters mentioned in the Budget would create challenges for investors and market analysts.
"For example, the Sales and Services Tax (SST) was said to be increased for certain areas, and its scope was expanded, but where are the details?
"How much revenue will the government actually collect from the expanded SST? Which sectors will be taxed, and by how much?
"These details were not provided, leaving these sectors wondering about the government's direction for Malaysia's economy, particularly in terms of taxation, especially SST," he said at a press conference after the tabling of the 2025 Budget in the Dewan Rakyat today.
The Perikatan Nasional lawmaker also said the government should not leave market players and investors in a state of uncertainty.
"They need to plan their budgets and understand how much the SST will increase.
"The government needs to provide details on the effects of the SST increase and the expanded scope so that not only the general public but also those in the industry are well-informed."