Tony Pua spills the tea on Why GST Wont Work, Recovering 1MDB’s Money, Petrol Subsidy | Episode 3
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- čas přidán 4. 07. 2024
- Dive into the complexities of Malaysia's economic landscape with Tony Pua in Episode 3 as he spills the tea on why GST won't work, shares insights on recovering funds from 1MDB, and discusses the intricacies of the petrol subsidy.
Without Tony , The Edge, Sarawak Report, 1MDB would never be able to be brought to the scrutiny of the public of Malaysia and justice would never be able to be served on those crooks .
Believe You Mistaken… it was DOJ Report that 1MDB finally Got Traction …
This is something we need, Malaysia need for the betterment of the country and maturity of the government. Bravo to both for taking the courage to do this. Malaysia need capable government be it Malay, Indian, Chinese or whatever races to run the country. As it is now we have lost our niche and competitiveness globally. We have lost more than 10 years because of so many scandals, we can’t afford not to buck up.
Keep this up. We appreciate and support you ❤
One of the best programme for all Malaysians. Hope Dr. Ong and Tony Phua continue we will be very appreciated.
This is the intellectual discussion all politicians needs to display instead of mud slingging gutter politics presently practised.
And show off their stupidity and vulgarness in Parliament . Very shameful idiots.
THANK YOU Tony Pua for savings BILLIONS on the MRT2 project for the RAKYAT !!!!!
Both Ong kian Ming n Tony r truly patriotic Malaysians who love their country. Thx for the revelations
Ikr, starking contrast to the so called a big chunk of the tuans of the land people who is motivated by selfish/tribalistic gains.
@@Armz69this has got nothing to do with tuans or what not. The 1mdb issue is a testament to that. In fact it is a 1 Malaysia scam whose masterminds come from all 3 ethnic grps. So stop making discriminatory n prejudiced claims. When I mentioned najib n his govt, I did not mean to any ethnic reference. It is what it is. Najib n his govt were corrupt. That does not mean the malays r. They r 2 separate grps.
@@mayfoo02well, that's one way to put it. I'd put it akin to "i don't see colors" sort of response. I understand the desperation to be accepting and accepted, after all it could be the byproduct of the longstanding systemic silencing of criticisms by those people. I respect your stance, and I agree to disagree, while I did not generalize to the whole particular demographic (read properly), I definitely won't deny the damages being done by them through the decades.
@@Armz69 Your initial comment, IMHO perfectly applies to the past BN government from PM4 onwards. The Malays, Chinese, Indians, Ibans and Kadazans etc in power, were 'selfish'. When PH took power in 2018, there was hope of true reforms but being led by Mahathir essentially discounted that possibility, as it turned out. PM7, 8 and 9 were essentially status quo with no real change system-wise. There is great hope with the current UG since it is led by PH, working in close cooperation with UMNO, still very much synonymous with the Malays. There is a distinct change in direction for the better because there is greater competency and less corruption in government. Given sufficient time, the systemic weaknesses of the past would be addressed and the aspirations of PH's struggle would become dominant, which is good for Malaysia.
Their departures from politics is a loss to the country.
Such an intelligent individual, not in cabinet, is the country’s loss. Y is he not in this unity govt cabinet? He’ll make a remarkable finance minister. So is dr ong. Both are remarkable talents. Dr ong with rafizi will make unbeatable economic ministers!
Great discussion and sharing. Looking forward to the days when we have more educated and intellectual ministers who can count so that we have more effective and efficient policies, implementation plans, and better contract negotiations for the benefits of the rakyat. Keep up the good work and wish for both of you to be back in government soon!
A very clear discussion that explained why GST shouldn't be implemented, at least for this moment of time. Bravo to Dr. Ong and Tony Phua.
this is my 1st video from you guys . really hard to find an english commentary on such topics . thank you guys !
Tony you are Hero for Malaysia , we all love you
He is hero for himself,,, where is the progress of city and high speed to Singapore and city canal ,, air cotor lah caused you cancel later on time comes,, okay voted for Najib lah
I understand GST explanation and its challenges better from this podcast.
Great video, all Malaysians should watch this, cos we don't know how the government works, they didn't even talk much about politics, just policies, no race, no religion being mentioned, I have tried to watch videos of PN, interviews of their MPs and it just a cannot compete with this, learnt so much
Absolutely agree with u
no audio from 46:00 to 48:15
Ya me too
The difference between this podcast and KS is. This is very direct to the topic and answer/discuss, more to policy and less pilotic. KS more to kecam UMNO at the first few episodes but after that getting better. But still more toward to politics.
Than you for a Interesting program keep up the good work Dr. Ong and of course Mr Tony Pua
These guys, are the actual leaders we need for the development of Malaysia. Leadership runs in their blood. Unlucky, till now we are struggling and left far behind by Singapore, korea, japan, china, etc.
Good. To have it in English allows more people to listen and can understand.
It is such a pity that the govt lost the service of these 2 highly intelligent and honest MPs.. Imagine how much more they can contribute towards the positive advancement of our beloved nation. Why the majority cannot see how important it is to us to have honest capable and smart Ministers and advisors irrespective of race and religion.. All the rakyat irrespective of race n religion will benefit from good governance. Why succumb to fear n hatred and sacrifice the welfare of our nation? .. We need good honest people to save our nation 😳 and unfortunately there are so few nowadays 😭
Now that the public understands what Ong & Tony have done , saving Billions of RM from their involvement in Ministry of Finance, these two guys must be brought back immediately into the UG & given a senior position including bodyguards to protect them from dissatisfied party/ies!
Very good . Short and clear. Wish a lot more Malays would listen and get a clearer picture. Thanks guys !
satu lagi podcast politik yg saya dengar selain dari pada Keluar sekejap!! nice !!!
Saya ikuti juga Iswardy, Dato Lokman Adam, Amanah dan Yanie
INCOMPARABLE,THIS IS TOTALLY NON POLITICAL BUT A REAL INTELLIGENT WORTHWILE PODCAST,ABSOLUTELY FOR A BETTER MALAYSIA
Excellent discussion. Rare to hear the various issues that plagued the nation. The worst enemy incompetency corruption betrayals. Hopefully to see both contributing in the process of good governance. Heartiest gratitude for the past service
Thank you Tony Pua. It is just a shame that people are forgetful and take it for granted. It is hard to have another Politician that not just care about the nation and have the availability and power to do something about it.
GST should not be abolished in the first place, but a refund of GST for basic needs for all. It helps identify tax evasion and capture black market money when the money spend
Yes, the tax system is the future due to its transparency, but the unfortunate thing is that we don't have the ability to handle the GST system now. U can't imagine how bad the condition is in the port klang during the GST era. Perhaps we should take a step back in order to move forward. Build some infrastructure at the back now so that we can implement it in the future. It is not a shameful thing to do.
Great discussion and very informative. I enjoyed this discussion very much and I guess it has more than answered Tony's critics. Those anti DAP should hear what he had explained on the Jawi issue. I suggest having a BM subtitle on this video and a transcript of this discussion in BM disseminated to the Malay media. It will open their ears of the patriotic things u guys have done for the rakyat and country despite all the obstacles and challenges.
Great💫
It seems clear that Tony has the rakyats interest at heart. Also I am impressed by his sharp mind and his audacity to challenge the status quo in the interest of the rakyat. But I do feel, in the public stage is where he fails. When he speaks he comes across as arrogant and uncaring. Obviously this is not true but sometimes perception is more important than the truth. Perhaps why Tony is still very much needed to contribute ideas and direction albeit behind the scenes.
Tony is a humble man, not wanting to show off his intelligence & capability. It's the Empty Vassals that make the most noise and he is NOT one of these vassals. Whilst in government, lots of government contractors/subcontractors people were trying to suck up to him, which he avoided & was therefore named arrogant & uncaring. People like him is what we need for better efficient & effective "clean" government
How I wish the cabinet ministers can think & analyse like Tony Pua in addressing issues our nation is facing just like the old unresolved issue of GST.
Cannot practise meritocracy in all democracies unless it's the CPC governing but that's omg Communism!!!
These two RI boys, its amazing how they didn't decide to stay on in Singapore. Any minute they'd be in the Singapore Finance Ministry, instead of rescuing Malaysia. Such genius there breaking down the borrowing for the highway, explain the entire MRT negotiation and bargaining wah the MRT more expensive than Singapore, there talking breaking down how Muhyddin never go after Goldman Sachs hard enough that Goldman Sach shouldn't be allowed to reduce compensation.
Tony Pua make one statement, "most of them cannot count", we all also thinking like that, that's why the country keep having deficit, that's why the ringgit keep depreciating, semua pekerja tak boleh kira.
You both have done a very good job and hoping to see you to continue doing it.
thanks tony pua, very knowledgeable discussion
😊😊😊 awesome work. Have more series!!! ❤
This was so interesting and I never knew about the details and cock ups.
Thanks Tony. We wish you had continued to serve.
The insightful analysis here is providing a valuable service in helping Malaysians enhance their political understanding and literacy.
Very interesting, i appreciate these discussions and insights very much. I hope the rakyat will be able to use their brain better after this. Definitely need more of this. 👍
Thank you for perspective on Gst
Not bad this Tony Pua fella quite smart haha very sharp!
Great discussion. Really enjoyed that. Trip down memory lane. For the next part can we discuss on the future, what can Malaysians look forward to, how can Malaysia improve further, what new policies can be put in place and some discussion on budget for 2024.
YB Ong and Tony Phua 👍👍👍
Every language you learn no matter what the language is is always beneficial to you.
One of the best podcast episode that I’ve listened to. Great job!
Great insights. We need more smart people like them to run the country.
Sadly, the tuans of the land likely would be against that. 😂
Yup, smart people need to be a certain race to run the country
Thanks for all the information. I do think that you guys got to be “high profile” when you are doing things or have done things. Just like what Anthony Loke said.
MRT2 savings of 8.8 billion is enough to build a Mrt system in Penang 🤯 a different way of paying Plus to save on costs and allow for free toll 7 hours per day without price increase. What? 🤯
Appreciate for all the things you guys have done and are doing for the country
Great discussion!! Love to have more of this!!
Please continue doing more episodes like this! Really eye opening.
Thank you for all the insights shared! I learnt a lot through this podcast!
nice insight of new podcast...
Tony and kian Ming, thanks for your time and great insight. Think this should be translated to mandarin/bm as well for senior citizens to understand and also shared on tik tok / IG stories.
Kudos! Definitely a great discussion.
Thanks Much for this Platform to inform & discussions 🎊🎉🎊🎉👍🏼👍🏼👍🏼👏🏼👏🏼👏🏼
Great and insightful discussion
Thank you for finally doing this!
Great discussion!
Thanks for this interview; it is very insightful. It helps us understand many things. Below are questions from me:
1) Can you guys share with us the reasons why a GST below 6% would be money-losing? Khairy Jamaluddin had recommended lowering the GST to 3%. I would like to know why it didn't work.
2) GST has been recommended by economists not only from Malaysia but also from around the world. If it is so regressive, why would they recommend GST?
3) Based on a Google search, currently, there are 195 countries in the world implementing it. Countries poorer than us, like Thailand, Vietnam, the Philippines, Indonesia, and India, have GST. If GST is so bad, why haven't these countries abolished it?
4) Can you share the data for the cost of building the underground MRT station in Singapore and the underground MRT station in Malaysia?
5) Thanks for highlighting how inefficient our GST system is. May I know if there has been any study conducted to support the claim that there is no way to improve the GST system in Malaysia to make it feasible? Also, how have other countries in the world been able to successfully implement GST, even when some of them are poorer than Malaysia?
6) Can you share the study on passenger growth and the population of LRT 3? Based on this podcast, the number of rolling stocks ordered seems ridiculously high.
7) Can you share with us the study on the benefits of realigning the ECRL by the PH government and the negative impacts of the alignment from the BN government?
8) Previously, Mr. Pua had recommended privatizing PLUS; however, it has been proven that the recommendation is not feasible. Can you please elaborate on why you think it is feasible?
tony said gst to something like 5% to break even the cost of collecting gst
Tony already explained but you ask again 😅 you may reply how many times as you like to understand what he mean 👍🏻
@@yikbnl why the cost of collecting gst is so huge? how SG gov can did it and we can't?
@@gladysloh7223 you know their GST is 7% right? and now moving to 9%. The cost could be also because many public servant is needed to check the transactions so more cost incurred? suggest to digitalise the GST system.
@@xcjsmith5310we only 3% before..
Pls broadcast via podcast. Many would prefer listening while driving or working.
Been waiting for long time on this…finally
Good stuff. More please
Great podcast. So much was shared such as the thought process behind major changes proposed/made during PH time. Sadly the country couldn’t handle such changes in such a short time period. Would also like to hear his thoughts on the proposed KL-SG HSR
Very insightful.
Incidentally, it's "with regard" if it means "referring to/with regard to" whereas "with regards" is a form of pleasantry.
Reduction of GST from 6% to 5% would equate to a 17% drop in revenue. In 2017, total GST collection was RM44bil. To "break-even" is Tony Pua saying that the cost to run GST was RM36bil? Does that number make sense?
In regards to small business owners incurring extra cost, I'm sorry, but having an accounts clerk, a system that supports GST and auditors are all "costs of doing business". Having said that, steps could have been taken to increase the minimum GST reporting threshold from RM500K to RM1mil instead of just scrapping GST.
Saying that our Customs Department cannot deal with GST verifications and refunds is not a good reason to drop GST. Why can every other country do it and why can't the government of the day (PH) have taken steps to improving the efficiency Customs by removing their road-blocks.
If PH was in power in 2018 and PH was a clean government, then wouldn't the issue of moral hazards be automatically addressed?
Does Malaysia's implementation of GST count as "regressive taxation" if there were so many exemptions and zero rated items?
At the end of the day, GST was politicized by PH, and Tony Pua is hiding behind all these weak excuses. GST is a long term investment at requiers the whole country to commit time, effort and money. It is a key piece of the puzzle to address the fiscal issues our country is facing (i.e. lack of revenue). Now the government is implementing a higher SST (for some sectors), LGT, LVGT, CGT (on unlisted shares). You'd soon realise that this is a silly and inefficient way to go about it because there are just too many systems. Eventually they need to be consolidated and we will come back to GST. But PH (LGE and Tony Pua) have already poisoned the GST well.
Maybe it would be best to get someone else other than OKM to run a real discussion on GST because he just seems like a 'yes-man' on this topic. Maybe @keluarsekejap
Finally, someone said it. Agree with you 100% sir.
Are you really naive and cannot see the whole picture ?
Msia gov received RM30 billion dividend every year from oil and gas income. Is this not enough to cover all the budget extra expenses ?
Starting GST6% is wrong.
GST should start at 3% like what Spore did when first implemented.
May be companies with salse above RM2 million should be imposed GST 3%.
Trying to make a political come back. GST was the right move, the learning or transitioning process from non GST to GST were already in motion. It's only a matter of time when the shortfalls on efficiency in the collection and refund he mentioned can be improved. All businesses were already getting used to it. To take a progressive tax system after implementing it was definitely a stupid decision and done more for political reason to gain the support from the masses. Now have to impose new SST taxes to make up for the shortfall. 😂
@@khkhoo5130
Are you that stupid ?
GST = SST
@@zenlei8258 Of course RM30bil from PETRONAS is not sufficient. Our budget for 2024 is RM393bil. Operating expenditure is already RM300bil. Who is going to pay for that? The more the government goes into debt, the more our currency devalues. Our development budget is tiny, so how do we build for the future? Furthermore, we should be moving away from income sourced from fossil fuels. The whole point is to diversify the revenue streams of the government. Personally, it is a good thing everyone is taxed. It is the social contract that ensures the rakyat hold the government accountable because they are spending their hard-earned money on taxes.
Yes, Singapore started with 3%. Back in 1994 which was 30 years ago! The economic landscape has shifted considerably.
wow amazing
Just compare the two brains with KJ , they are way ahead !
Wong Chen of PKR Subang is another unutilised brain whom Anwar could have appointed as his economic adviser
On the last issue discussed, from what I see, they did learn their lesson. When the issue broke out a few years back, there were no "green wave". But today with the green wave pointing on all of our heads like a pistol, i think those who were irrational a few years ago have learnt to take a step back.
interesting episode !
Interesting conversation 👍
Insightful sharing, please keep this going!
good video!! support!
Easily ministers materials
For MRT 3, it seems quite a few stations were taken off especially in the ampang region.
In my view, it defeats the purpose as MRT 3 would be the missing link to connect all lines together and closer-to-home stations would definitely encourage utilization of MRT/LRTs.
Hope the govt will be able to comprehensively study this before axing stations on the basis of cost cutting.
Did Msia engage global expertise? They dun come cheap but if the lines n stations are wrongly planned n located, the costs is even higher! SGP engaged teams of global experts n when networks were finalized, again open global tenders for best n most cost effective contractors.
Dear former YB, the space needs some sound proofing panels. Very echoee when turn on volume
While Malaysia fails n most nations do very well with GST n GST is a superior consumers tax not to be ignored. I was in London 1974 when GST was just implemented n there was not any problems.
I was against GST but after 1 year system roll out, i found it fair and balance. i.e B40 bought beras tempatan at rm26 + 6% GST, vs T20 bought basmathi at rm60 + 6% GST. Everybody pays GST based on thier expenses level. Plus gov be able to track $$ thru GST.
GST or SST 6%?
@@manusiasenin9847 GST
It's not just this cost of enforcement. I predicted that the GST would only make things worse when it was first proposed and the rules and regulations first put out and explained. I even wrote a C# program to prove it and showed it to my family. The program showed that it would only increase costs for everyone, supplier, seller, end-customer, etc. The Malaysian government needs to consider things carefully before they put anything into enforcement. No just copy and paste. Currently the habit is to do first and think after.
and one last point... please make it a regular podcast show... we need to hear more from different perspective...
Tony Phua, how about TRX project? Can you share what was being discussed for the TRX project and eventually carried on.
U guys dont have an editor meh? y no audio on minute 46 -48.17? or did tony revealed something bad hence being censored on his own show ka?
Extremely informative...but we should have been enlightened about these issues long ago. The (current) government really has to improve its PR / communication with the public! By the way, there's no audio from 46:00 to around 48:20.
Wish you two were still serving the people!
By the way, I've always thought you were right, Tony, about sitting down and having a discussion with that traitor Mahiaddin after the Sheraton debacle. Too many people let their emotions get the better of them and, as expected, UMNO played him out and we had to suffer a few more years under Sabri...
Wow....The GST segment sounds so Political...is it even make economic sense ? Dr Ong, as a former Deputy Minister of MITI should also give commend on whether you totally agree with TP, rather than just asking question.
1. GST caused alot of expenses.....that is not the issue with the tax, The tax itself is fair and efficient. The ONLY problem is the Mechanism....the refund, the cost for small Business.......BUT now there is Einvoice with SST and its not only for manufacturer or FMM like TP said but for all business soon...so all business again need to increase cost .... that shread to pieces this arguement by TP. The correct way is to improve on the mechanism....This is MALAYSIA TAK BOLEH....when most of the world BOLEH.
2. Low income consumer. During GST, most essential goods and services like basic foods, Medical was exempted....Nowadays even mediacal is SST taxable and now even TCM is SST taxable....Dont forget Service TAx is now 8%
3. Instead of 1 GST, Now we have Sales Tax 6% Service Tax 8%, LVG Tax 10%, Luxury Goods etc...what a mess...
Msia gov received RM30 billion dividend every year from oil and gas income. Is this not enough to cover all the budget extra expenses ?
How many more billions you need to tax the B40 ?
SME get a lot of tax rebates and pay very littel tax.
@@zenlei8258 ..GST 6% is transparent and everyone know what tax and what amount, people see it and do not like it...
SST is opaque, it's embedded at the manufacturing / importer 10% for product and 8% service and various other taxes but people can't see it as it's already in the final price.....
Now read today news...TCM which is exempted GST is now ask to pay SST backdated.....
TP just talk cock there. All advance countries in the world uses gst because it’s efficient and transparent. Those bullshit sst or whatever t just create a lot of mess for both consumers and business owners
I'm sure some big bosses bought up land around the earlier removed station. They don't want to lose money and potential money can be earned.
Pls ensure the sound WILL be recorded and played in part 2.
If Serious informing Rural Malays which are the majority, these podcast should be in BM ! They will love you❤️❤️❤️
No wonder Guan Eng was a failed FM during PH 1.0 😂
How big is the black market portion from the economic pie.
Issues that need arresting are,
Water Security
Energy Security.
Thank you.
Great video. A gentle reminder to be mindful we are in a unity government. Go easier on our partners and their previous flaws/mistakes. Lets not make it harder on PM Anwar.
See the calibres of these 2 guys and if they were to run our country our country would have good blessings whether you are Chinese, Melayu or Indians
I see. So the cronies were during the Gamuda time. No matter what, the liabilities are taken by the current stock holders (Khazanah and EPF). It is clearer now🎉. Thanks Tony and Lim Guan Eng.
hi kian meng . may I ask when you are Bangi YB , why is the MRT projects did not extend to to bangi its just up until end of kajang station. Do you know is the any extension later on ..tq
Good combination from ex.well educated politicians. Their ideas worth pondering and implementing.
Good point Tony- not cost effective.😊
audio lost at 46:00 mark on youtube but ok on spotify. am i the only one facing it?
Very informative discussion, the last part of the discussion regarding the jawi issue really hits hard. One topic I hope you guys can bring up a topic on newsite heavily favouring using clickbait news headlines or like you say fueling the fire. It really hurt PH 1.0 and i still see this happening alot recently especially towards PH leaders like rafizi etc. Alot of time, it is the byproduct of Malaysian unwillingness to spend time reading the news article instead of bashing aimlessly in the comments. Alot of times when i see headlines that creates a initial negatitive perspective on a PH leader, and then read the content, it did not reflect the news headline at all.
The thought of giving the benefit of the doubt before making judgement apparently seem to feel like "kowtowing" to the government. Which is the part I find funny about urban voters in general, because they tend to laugh at kampung voters as being gullible and never question anything. What is so different about urban voters that take news headline as it is and consume it instantaneous without question.
For those that read this comment, I sincerely hope that if you ever have a bad impression of someone from a news headline, take atleast a few minute to read through the article and grasp the context behind it. If the content is so objectively reflecting what the news headline is portraying, then go ahead and criticise away.
It is due to the lack of education/maturity/awareness etc that urban voters take the headlines as it is. Sometimes it’s their own laziness to take some time to do their own research on matters. Sometimes it’s due to certain media channels putting up headlines that draws clickbaits or just adding fuel to fire knowing that some people would not go through the whole article since they will always link the articles to their websites etc.
I've just subscribed..... ❤😊
Guys, just want to report from about 45:59 to 48:16 audio was lost.
What happened to the audio from around 46:00 for about 2 minutes?
Selain KS podcast ni pun menarik.
This tony pua can be use on other but not in term of financial and fiscal. The way he talk it is better for him to in the police force or SPRM. He is better at enforcement then economic.
From the way he talking about GST is really mislead his supporter (who really believe in him) and most of the people because he was in the MOF before.
There is no such thing as 36billion need to break the even. In term of Customs, there only like 3000 personell who involve with GST and this cost around 1billion a year. For the company, cost to manage the GST might as high as 2.5k per month just like Tony mention but that would be for the company with millions revenue per day. For a normal small and medium enterprise such as coffeeshop and mini market it would be enough to relly on the GST sofware or POS system only to get the report and submit the GST return. And all of this cost was already incure on the daily process of the businesses even without GST like now. Coffee shop and mini market still use POS system. The different only they r not use the tax module. 😅
But yes, due to the inflation and to promote the startup business, the threshold for mandatory registration should be increaae to around rm1.5m instead of 500k like before which is way too low.
Glad to hear a rational answer from someone who’s really know how the actual gst system operated..TP is a master of misleading facts with straight face
GST is better than all these random sales tax..
100% Tony Pua does not wants GST because he is working for his party political donors and not for the rakyat properly.
Unlike those large company who dare to take advantage to make more money by paying less tax through the inefficiency of SST taxation system.
So when the govt make less money because of those who evade to pay their taxes properly, the govt will adopt various taxes to squeeze every drop from the average Joe.
The businessmen are also paying upfront the GST every 3 months even before they can collect their debts/ receivables ( especially if the businessmen are also giving credits to their customers)..this cause severe cash flow problem to the businesses because the calculation of the GST starts the moment the invoices are generated. To claim back the refund is another problem.