Breaking Down the SST in Malaysia Following the recent announcement of the re-introduction of the sales and service tax (“SST”) in the market, many people started to revisit how the SST tax regime and what’s the impacts of it? According to the Finance Minister of Malaysia, Lim Guan Eng, SST will make a comeback with…
Customs Department Says Essential Items Will Not Be Taxed SST Certain Consumer Goods Will Not Subjected to the Upcoming SST Vegetables. Poultry. Fresh milk. Various types of sugar. These are just some of the consumer good items on a long list prepared by the Customs Department that is proposed to be exempted from Sales…
Notice Regarding GST Price Displays 30 May 2018 – The Royal Malaysian Customs Department (RMCD) is issued a notice regarding the change in GST rate. This notice provides customers with the guidelines about the price tag changes which began on the 1st of June 2018 when the GST rate was zeroed out. Key highlights…
SST Takes Effect in Malaysia on Sept 1 The new Sales and Service Tax (SST) will come into effect in Malaysian on September 1 this year, after the Goods and Services Tax (GST) was zero-rated on June 1. Following this, the price of goods dropped by at least six per cent once the zero-rated GST system kicked…
Tax Incentive for Returning Expert Programme The Inland Revenue Board of Malaysia (IRBM) recently issued the Public Ruling (PR) No. 2/2018: Tax Incentive for Returning Expert Programme. The objective of this PR is to explain the tax treatment relating to tax incentives in respect of the Returning Expert Programme to attract Malaysian citizens who work…
New Malaysian Government Fulfils Promise, Malaysia GST Reduced to Zero The Malaysian government has today thrilled citizens by fulfilling their promise – the Malaysian Goods and Services Tax (GST) will be reduced from 6% to zero come June 1st. The new Malaysian Prime Minister Mahathir Mohamad had earlier instructed the government to stop collection on…