LL Koong: There should be more detail on the overall mechanism, which includes the sub-categories of each item that would be taxed... We need more time before we can implement the new tax. This is because there are still a lot of things that the government needs to iron out. They need to engage with the specific industries involved, not only general groups. For this, we need about 12 months before implementation... there were also no revenue projections by the government on the HVGT while there was an absence of estimated administrative costs of the implementation.
interviewed by The Star, 27th Oct 2023